Pekin Hardy Strauss Inc. Acquires 2,015 Shares of Schlumberger Limited (NYSE:SLB)

Pekin Hardy Strauss Inc. grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 9.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 23,011 shares of the oil and gas company’s stock after purchasing an additional 2,015 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Schlumberger were worth $1,086,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of SLB. Moors & Cabot Inc. lifted its position in shares of Schlumberger by 1.8% in the second quarter. Moors & Cabot Inc. now owns 76,182 shares of the oil and gas company’s stock worth $3,594,000 after buying an additional 1,315 shares during the last quarter. Lmcg Investments LLC lifted its holdings in Schlumberger by 2,435.7% in the 2nd quarter. Lmcg Investments LLC now owns 131,603 shares of the oil and gas company’s stock worth $6,209,000 after purchasing an additional 126,413 shares during the last quarter. Citizens Financial Group Inc. RI boosted its position in Schlumberger by 7.4% during the second quarter. Citizens Financial Group Inc. RI now owns 197,371 shares of the oil and gas company’s stock worth $9,312,000 after purchasing an additional 13,662 shares during the period. Mesirow Financial Investment Management Inc. grew its holdings in Schlumberger by 21.1% during the second quarter. Mesirow Financial Investment Management Inc. now owns 11,847 shares of the oil and gas company’s stock valued at $559,000 after purchasing an additional 2,061 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Schlumberger by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock valued at $333,445,000 after purchasing an additional 915,705 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

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 transaction, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the transaction, the executive vice president now owns 247,699 shares in the company, valued at approximately $12,432,012.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction on 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 owns 62,354 shares in the company, valued at $3,073,428.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 180,716 shares of company stock valued at $9,048,624. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Schlumberger stock opened at $41.50 on Wednesday. The business has a 50 day simple moving average of $44.71 and a 200 day simple moving average of $47.52. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The company has a market capitalization of $59.32 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.85 and a beta of 1.52. Schlumberger Limited has a one year low of $38.66 and a one year high of $61.78.

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

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.65%. Schlumberger’s dividend payout ratio is 36.54%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the stock. Piper Sandler decreased their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Bank of America dropped their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. UBS Group dropped their price target on Schlumberger from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Finally, Susquehanna lowered their price objective on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research note on Thursday, July 11th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $66.72.

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.