Lyell Wealth Management LP Boosts Stock Position in Schlumberger Limited (NYSE:SLB)

Lyell Wealth Management LP lifted its holdings in Schlumberger Limited (NYSE:SLB) by 15.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 220,214 shares of the oil and gas company’s stock after purchasing an additional 28,799 shares during the quarter. Lyell Wealth Management LP’s holdings in Schlumberger were worth $10,390,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SLB. Register Financial Advisors LLC bought a new stake in Schlumberger in the first quarter worth $27,000. Bruce G. Allen Investments LLC lifted its position in Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after buying an additional 392 shares during the last quarter. Unique Wealth Strategies LLC bought a new stake in Schlumberger in the second quarter worth $30,000. Manchester Capital Management LLC lifted its position in Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after buying an additional 426 shares during the last quarter. Finally, Riverview Trust Co lifted its position in Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after buying an additional 308 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the transaction, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the transaction, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,716 shares of company stock worth $9,048,624. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Up 0.4 %

NYSE:SLB opened at $39.96 on Friday. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $61.78. The company has a 50-day moving average of $44.90 and a 200 day moving average of $47.64. The firm has a market cap of $56.74 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 0.84 and a beta of 1.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm’s revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.72 earnings per share. As a group, research analysts anticipate that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.75%. Schlumberger’s dividend payout ratio is presently 36.54%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Benchmark restated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. UBS Group decreased their target price on Schlumberger from $67.00 to $63.00 and set a “buy” rating for the company in a research report on Tuesday, August 20th. StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Citigroup decreased their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Finally, Barclays decreased their target price on Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

About Schlumberger

Schlumberger Limited engages in the provision of technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company provides field development and hydrocarbon production, carbon management, and integration of adjacent energy systems; reservoir interpretation and data processing services for exploration data; and well construction and production improvement services and products.