Newbridge Financial Services Group Inc. Sells 927 Shares of Schlumberger Limited (NYSE:SLB)

Newbridge Financial Services Group Inc. decreased its holdings in shares of Schlumberger Limited (NYSE:SLBGet Rating) by 6.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,228 shares of the oil and gas company’s stock after selling 927 shares during the quarter. Newbridge Financial Services Group Inc.’s holdings in Schlumberger were worth $509,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of SLB. Invesco Ltd. grew its stake in Schlumberger by 13.0% in the fourth quarter. Invesco Ltd. now owns 8,353,315 shares of the oil and gas company’s stock worth $250,183,000 after purchasing an additional 958,196 shares in the last quarter. Fiduciary Trust Co. boosted its position in Schlumberger by 3.2% during the 4th quarter. Fiduciary Trust Co. now owns 11,563 shares of the oil and gas company’s stock valued at $346,000 after acquiring an additional 360 shares in the last quarter. Rockefeller Capital Management L.P. boosted its position in Schlumberger by 5.8% during the 4th quarter. Rockefeller Capital Management L.P. now owns 144,435 shares of the oil and gas company’s stock valued at $4,324,000 after acquiring an additional 7,931 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Schlumberger during the 4th quarter valued at $262,000. Finally, Nissay Asset Management Corp Japan ADV boosted its position in Schlumberger by 9.5% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 168,415 shares of the oil and gas company’s stock valued at $5,044,000 after acquiring an additional 14,613 shares in the last quarter. Institutional investors own 78.71% of the company’s stock.

Schlumberger Price Performance

Shares of SLB stock traded down $3.66 during trading hours on Friday, hitting $34.57. The company’s stock had a trading volume of 950,650 shares, compared to its average volume of 10,468,639. The business has a fifty day moving average of $36.97 and a 200-day moving average of $39.51. The stock has a market cap of $48.90 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 0.48 and a beta of 1.81. Schlumberger Limited has a twelve month low of $27.23 and a twelve month high of $49.83. The company has a current ratio of 1.35, a quick ratio of 0.98 and a debt-to-equity ratio of 0.78.

Schlumberger (NYSE:SLBGet Rating) last announced its earnings results on Friday, July 22nd. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.10. The firm had revenue of $6.77 billion for the quarter, compared to analyst estimates of $6.28 billion. Schlumberger had a net margin of 10.56% and a return on equity of 15.06%. Schlumberger’s revenue was up 20.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.30 earnings per share. As a group, equities research analysts anticipate that Schlumberger Limited will post 2.02 EPS for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Wednesday, September 7th will be paid a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Tuesday, September 6th. Schlumberger’s dividend payout ratio is currently 38.04%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a report on Friday, August 19th. Benchmark upgraded Schlumberger from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a research note on Wednesday, July 27th. Cowen lifted their price objective on Schlumberger from $47.00 to $49.00 and gave the company an “outperform” rating in a research note on Monday, July 25th. The Goldman Sachs Group dropped their target price on Schlumberger from $54.00 to $45.00 and set a “buy” rating on the stock in a research report on Wednesday, July 13th. Finally, Barclays raised their target price on Schlumberger from $55.00 to $59.00 and gave the company an “overweight” rating in a research report on Wednesday, June 8th. One analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $47.01.

Schlumberger Profile

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Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

Further Reading

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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