Duff & Phelps Investment Management Co. Grows Stock Position in Schlumberger Limited. (NYSE:SLB)

Duff & Phelps Investment Management Co. lifted its stake in Schlumberger Limited. (NYSE:SLB) by 3.6% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,135 shares of the oil and gas company’s stock after buying an additional 520 shares during the period. Duff & Phelps Investment Management Co.’s holdings in Schlumberger were worth $601,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Advanced Asset Management Advisors Inc purchased a new position in Schlumberger during the 2nd quarter valued at about $2,601,000. Employers Holdings Inc. purchased a new position in Schlumberger during the 2nd quarter valued at about $83,000. Parkside Investments LLC increased its holdings in Schlumberger by 46.5% during the 2nd quarter. Parkside Investments LLC now owns 34,085 shares of the oil and gas company’s stock valued at $1,355,000 after purchasing an additional 10,820 shares during the period. Icon Advisers Inc. Co. increased its holdings in Schlumberger by 6.6% during the 2nd quarter. Icon Advisers Inc. Co. now owns 147,400 shares of the oil and gas company’s stock valued at $5,858,000 after purchasing an additional 9,100 shares during the period. Finally, Occidental Asset Management LLC increased its holdings in Schlumberger by 80.0% during the 2nd quarter. Occidental Asset Management LLC now owns 13,218 shares of the oil and gas company’s stock valued at $525,000 after purchasing an additional 5,873 shares during the period. Hedge funds and other institutional investors own 77.22% of the company’s stock.

Shares of SLB stock traded up $1.07 during midday trading on Friday, reaching $32.72. 13,454,900 shares of the stock were exchanged, compared to its average volume of 10,335,576. Schlumberger Limited. has a 1 year low of $31.11 and a 1 year high of $65.61. The company’s 50 day moving average is $38.21 and its two-hundred day moving average is $40.81. The company has a current ratio of 1.39, a quick ratio of 1.01 and a debt-to-equity ratio of 0.47. The firm has a market cap of $44.73 billion, a PE ratio of 20.20, a price-to-earnings-growth ratio of 2.03 and a beta of 1.44.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.35. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The firm had revenue of $8.27 billion for the quarter, compared to the consensus estimate of $8.11 billion. During the same quarter in the prior year, the business earned $0.43 EPS. The business’s revenue for the quarter was down .4% on a year-over-year basis. As a group, equities analysts expect that Schlumberger Limited. will post 1.51 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.11%. Schlumberger’s dividend payout ratio (DPR) is 123.46%.

In other Schlumberger news, insider Stephanie Cox sold 24,057 shares of the company’s stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $40.59, for a total transaction of $976,473.63. Following the transaction, the insider now owns 46,354 shares in the company, valued at approximately $1,881,508.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Patrick Schorn sold 12,151 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 130,000 shares in the company, valued at approximately $5,060,900. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.

A number of research analysts recently issued reports on SLB shares. AltaCorp Capital restated an “outperform” rating on shares of Schlumberger in a report on Thursday, June 20th. Bank of America restated a “buy” rating and set a $51.00 price target (down previously from $60.00) on shares of Schlumberger in a report on Tuesday, June 25th. Tudor Pickering downgraded Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 price target on the stock. in a report on Monday, April 22nd. JPMorgan Chase & Co. reduced their price target on Schlumberger from $42.00 to $41.00 and set a “neutral” rating on the stock in a report on Monday, July 22nd. Finally, SunTrust Banks boosted their price target on Schlumberger to $53.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $52.17.

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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