Sargent Investment Group LLC Buys 1,091 Shares of Schlumberger Limited (NYSE:SLB)

Sargent Investment Group LLC increased its stake in shares of Schlumberger Limited (NYSE:SLB) by 17.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,263 shares of the oil and gas company’s stock after acquiring an additional 1,091 shares during the period. Sargent Investment Group LLC’s holdings in Schlumberger were worth $343,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of SLB. Carolinas Wealth Consulting LLC boosted its holdings in shares of Schlumberger by 53.5% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 683 shares during the last quarter. Crescent Grove Advisors LLC acquired a new stake in Schlumberger in the second quarter valued at $257,000. National Bank of Canada FI grew its position in shares of Schlumberger by 15.0% in the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after acquiring an additional 51,637 shares during the period. Mission Wealth Management LP acquired a new position in shares of Schlumberger during the 1st quarter worth about $245,000. Finally, Canada Pension Plan Investment Board increased its stake in shares of Schlumberger by 9.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock worth $43,217,000 after purchasing an additional 64,974 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SLB. Evercore ISI lifted their price target on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Morgan Stanley dropped their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research note on Monday. Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Finally, Barclays decreased their price objective on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $66.72.

Schlumberger Stock Performance

NYSE SLB opened at $41.50 on Wednesday. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $61.78. The firm has a 50-day moving average price of $44.71 and a two-hundred day moving average price of $47.52. The company has a market capitalization of $59.32 billion, a P/E ratio of 13.79, a P/E/G ratio of 0.85 and a beta of 1.52. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55.

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

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Insider Buying and Selling

In related 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the business’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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 180,716 shares of company stock worth $9,048,624. Company insiders own 0.26% 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.