Dimensional Fund Advisors LP Purchases 915,705 Shares of Schlumberger Limited (NYSE:SLB)

Dimensional Fund Advisors LP lifted its position in Schlumberger Limited (NYSE:SLB) by 14.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,067,465 shares of the oil and gas company’s stock after acquiring an additional 915,705 shares during the quarter. Dimensional Fund Advisors LP owned 0.50% of Schlumberger worth $333,445,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in SLB. Register Financial Advisors LLC bought a new stake in Schlumberger in the first quarter worth about $27,000. Manchester Capital Management LLC lifted its stake in shares of Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares during the last quarter. Bruce G. Allen Investments LLC boosted its holdings in Schlumberger by 204.2% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares during the period. Transcendent Capital Group LLC purchased a new position in Schlumberger during the 4th quarter valued at $32,000. Finally, Unique Wealth Strategies LLC bought a new position in Schlumberger in the 2nd quarter valued at $30,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the transaction, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. 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. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 1.1 %

Shares of Schlumberger stock opened at $40.39 on Tuesday. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $61.78. The firm’s 50 day moving average price is $44.78 and its 200-day moving average price is $47.58. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The company has a market cap of $57.35 billion, a P/E ratio of 13.42, a PEG ratio of 0.85 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. The firm had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.72 EPS. On average, sell-side analysts predict that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared 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 is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.72%. Schlumberger’s dividend payout ratio is currently 36.54%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SLB shares. Susquehanna decreased their target price on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, July 11th. Citigroup lowered their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, June 28th. UBS Group reduced their target price on shares of Schlumberger from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Benchmark reissued a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.72.

Schlumberger Profile

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.