Morningstar Investment Management LLC Purchases 3,015 Shares of Schlumberger Limited $SLB

Morningstar Investment Management LLC grew its position in Schlumberger Limited (NYSE:SLB) by 23.7% during the second quarter, HoldingsChannel reports. The firm owned 15,744 shares of the oil and gas company’s stock after buying an additional 3,015 shares during the period. Morningstar Investment Management LLC’s holdings in Schlumberger were worth $532,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of SLB. First Command Advisory Services Inc. boosted its position in shares of Schlumberger by 300.0% during the 1st quarter. First Command Advisory Services Inc. now owns 636 shares of the oil and gas company’s stock valued at $27,000 after purchasing an additional 477 shares in the last quarter. Atticus Wealth Management LLC bought a new position in shares of Schlumberger during the 2nd quarter worth about $29,000. Atlas Capital Advisors Inc. bought a new position in shares of Schlumberger during the 1st quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. boosted its holdings in Schlumberger by 55.3% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 983 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 350 shares in the last quarter. Finally, Alpine Bank Wealth Management bought a new position in Schlumberger in the first quarter worth approximately $34,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Schlumberger stock opened at $32.28 on Tuesday. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $44.97. The company’s 50 day moving average price is $34.52 and its two-hundred day moving average price is $34.74. The company has a quick ratio of 0.98, a current ratio of 1.31 and a debt-to-equity ratio of 0.51. The stock has a market cap of $48.22 billion, a P/E ratio of 11.06, a P/E/G ratio of 8.82 and a beta of 0.97.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.Schlumberger’s quarterly revenue was down 6.5% compared to the same quarter last year. During the same period last year, the company posted $0.85 earnings per share. On average, equities analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd were paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Wednesday, September 3rd. Schlumberger’s payout ratio is presently 39.04%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Zacks Research upgraded Schlumberger from a “strong sell” rating to a “hold” rating in a report on Monday, September 15th. Piper Sandler dropped their price objective on shares of Schlumberger from $44.00 to $42.00 and set a “neutral” rating on the stock in a research note on Friday, July 18th. JPMorgan Chase & Co. dropped their price objective on shares of Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Monday, June 30th. Jefferies Financial Group dropped their price target on shares of Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Finally, Susquehanna dropped their target price on Schlumberger from $44.00 to $42.00 and set a “positive” rating on the stock in a report on Monday, July 21st. Two analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $52.06.

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of Schlumberger stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the sale, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. The trade was a 16.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.22% of the company’s stock.

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.