Seven Eight Capital LP Invests $2.18 Million in Schlumberger Limited (NYSE:SLB)

Seven Eight Capital LP purchased a new position in Schlumberger Limited (NYSE:SLBFree Report) during the fourth quarter, Holdings Channel reports. The fund purchased 41,930 shares of the oil and gas company’s stock, valued at approximately $2,182,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in shares of Schlumberger by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock valued at $7,609,804,000 after purchasing an additional 1,412,821 shares in the last quarter. Capital World Investors boosted its stake in shares of Schlumberger by 2.2% in the 4th quarter. Capital World Investors now owns 51,617,471 shares of the oil and gas company’s stock valued at $2,686,173,000 after purchasing an additional 1,133,686 shares in the last quarter. FMR LLC boosted its stake in shares of Schlumberger by 1.1% in the 3rd quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock valued at $1,584,099,000 after purchasing an additional 282,709 shares in the last quarter. Norges Bank purchased a new stake in shares of Schlumberger in the 4th quarter valued at $1,000,292,000. Finally, Morgan Stanley boosted its stake in shares of Schlumberger by 1.9% in the 3rd quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock valued at $920,561,000 after purchasing an additional 292,817 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 2.0 %

NYSE:SLB traded up $0.89 on Friday, reaching $44.55. 15,023,109 shares of the stock traded hands, compared to its average volume of 10,869,614. The company has a market capitalization of $63.68 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 0.84 and a beta of 1.57. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 12 month low of $42.77 and a 12 month high of $62.12. The company’s fifty day simple moving average is $49.02 and its 200 day simple moving average is $50.22.

Schlumberger (NYSE:SLBGet Free Report) last announced its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 EPS. Equities analysts predict that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.47%. The ex-dividend date is Wednesday, June 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Buying and Selling

In related news, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total value of $1,838,647.24. Following the transaction, the insider now owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total value of $1,838,647.24. Following the transaction, the insider now owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the transaction, the chief technology officer now directly owns 33,421 shares in the company, valued at approximately $1,612,897.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 106,158 shares of company stock valued at $5,099,893. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SLB has been the subject of several analyst reports. Barclays dropped their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Bank of America dropped their price target on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Finally, StockNews.com cut shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.06.

Read Our Latest Report on Schlumberger

Schlumberger Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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