PVG Asset Management Corp Acquires Shares of 5,430 Schlumberger Limited. (NYSE:SLB)

PVG Asset Management Corp acquired a new stake in shares of Schlumberger Limited. (NYSE:SLB) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 5,430 shares of the oil and gas company’s stock, valued at approximately $215,000.

A number of other institutional investors have also recently bought and sold shares of SLB. Vanguard Group Inc. boosted its position in shares of Schlumberger by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 112,662,996 shares of the oil and gas company’s stock worth $4,477,227,000 after purchasing an additional 1,715,548 shares in the last quarter. BlackRock Inc. boosted its position in shares of Schlumberger by 2.7% in the 2nd quarter. BlackRock Inc. now owns 89,868,836 shares of the oil and gas company’s stock worth $3,571,386,000 after purchasing an additional 2,340,320 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Schlumberger by 0.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 27,028,270 shares of the oil and gas company’s stock worth $1,074,104,000 after purchasing an additional 96,574 shares in the last quarter. Invesco Ltd. boosted its position in shares of Schlumberger by 57.3% in the 2nd quarter. Invesco Ltd. now owns 16,703,642 shares of the oil and gas company’s stock worth $663,804,000 after purchasing an additional 6,087,455 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its position in shares of Schlumberger by 9.7% in the 1st quarter. Clearbridge Investments LLC now owns 13,660,190 shares of the oil and gas company’s stock worth $595,174,000 after purchasing an additional 1,203,997 shares in the last quarter. 76.67% of the stock is currently owned by institutional investors and hedge funds.

SLB traded down $0.40 during mid-day trading on Friday, reaching $37.36. 6,392,691 shares of the company traded hands, compared to its average volume of 11,935,907. The stock has a market capitalization of $52.79 billion, a P/E ratio of 23.06, a P/E/G ratio of 2.69 and a beta of 1.49. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.47. The company’s fifty day moving average price is $34.67 and its 200-day moving average price is $39.20. Schlumberger Limited. has a 52-week low of $31.03 and a 52-week high of $63.65.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $8.27 billion during the quarter, compared to analyst estimates of $8.11 billion. Schlumberger had a net margin of 6.38% and a return on equity of 5.62%. The company’s quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.43 EPS. As a group, sell-side analysts forecast that Schlumberger Limited. will post 1.5 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, September 3rd. This represents a $2.00 annualized dividend and a dividend yield of 5.35%. Schlumberger’s dividend payout ratio (DPR) is 123.46%.

A number of analysts have recently commented on the company. Stifel Nicolaus raised Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday, June 7th. JPMorgan Chase & Co. dropped their price target on Schlumberger from $41.00 to $34.00 and set a “neutral” rating on the stock in a research report on Monday, September 9th. Gabelli assumed coverage on Schlumberger in a research report on Thursday, June 27th. They issued a “buy” rating and a $55.00 price target on the stock. Morgan Stanley raised Schlumberger from an “equal weight” rating to an “overweight” rating and set a $51.00 price objective on the stock in a research report on Tuesday, September 10th. Finally, Raymond James reaffirmed a “hold” rating on shares of Schlumberger in a research report on Friday, June 21st. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have given a buy rating to the company. Schlumberger presently has a consensus rating of “Buy” and a consensus target price of $51.11.

In other news, EVP Patrick Schorn sold 12,151 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $38.93, for a total value of $473,038.43. Following the completion of the sale, the executive vice president now directly owns 130,000 shares in the company, valued at approximately $5,060,900. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephanie Cox sold 24,057 shares of the company’s stock in a transaction on Thursday, July 25th. The stock was sold at an average price of $40.59, for a total value of $976,473.63. Following the completion of the sale, the insider now owns 46,354 shares of the company’s stock, valued at $1,881,508.86. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Schlumberger Company Profile

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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