Holistic Financial Partners Raises Stake in Schlumberger Limited (NYSE:SLB)

Holistic Financial Partners boosted its stake in Schlumberger Limited (NYSE:SLB – Free Report) by 7.4% in the second quarter, Holdings Channel reports. The fund owned 6,511 shares of the oil and gas company’s stock after acquiring an additional 446 shares during the quarter. Holistic Financial Partners held $307,000 worth of Schlumberger as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in SLB. Vanguard Group Inc. raised its stake in Schlumberger by 1.4% in the first quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after purchasing an additional 1,868,688 shares in the last quarter. Capital World Investors boosted its holdings in Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after acquiring an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD raised its position in Schlumberger by 14.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after acquiring an additional 10,606,191 shares in the last quarter. Norges Bank purchased a new position in Schlumberger in the fourth quarter valued at $1,000,292,000. Finally, Capital International Investors boosted its holdings in Schlumberger by 0.6% in the fourth quarter. Capital International Investors now owns 14,797,363 shares of the oil and gas company’s stock valued at $770,122,000 after acquiring an additional 89,483 shares during the period. 81.99% of shares are owned by institutional investors and hedge funds.

Analyst upgrades and downgrades

A number of brokerages have recently issued reports on SLB. Barclays cut their price target on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Citigroup cut their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Finally, StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. The company has a consensus rating of “Moderate Buy” and an average target price of $67.00, according to MarketBeat.

Read our latest report on SLB

Insider activity at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the transaction, the insider now owns 22,518 shares in the company, valued at approximately $977,956.74. The transaction was disclosed in a filing with the SEC, which can be accessed via this hyperlink. In other news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the transaction, the insider now directly owns 22,518 shares of the company’s stock, valued at $977,956.74. The transaction was disclosed in a filing with the SEC, which is available on the SEC’s website. Also, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the sale, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 185,696 shares of company stock worth $9,264,905. 0.26% of shares are currently owned by company insiders.

Schlumberger trades down 0.4%

Shares of SLB opened at $43.99 on Friday. Schlumberger Limited has a 52-week low of $42.61 and a 52-week high of $62.12. The company has a market cap of $62.46 billion, a price-to-earnings ratio of 14.61, a PEG ratio of 0.94 and a beta of 1.55. The company has a quick ratio of 1.13, a current ratio of 1.49, and a debt-to-equity ratio of 0.55. The company has a fifty day simple moving average of $46.11 and a 200 day simple moving average of $48.18.

Schlumberger (NYSE:SLB – Get Your Free Report ) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The company’s revenue increased by 12.8% year-on-year. In the same period last year, the firm posted earnings of $0.72 per share. On average, equities research analysts expect that Schlumberger Limited will post 3.49 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a dividend of $1.10 on an annualized basis and a dividend yield of 2.50%. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

About Schlumberger

(Free report)

Schlumberger Limited is committed to providing technology to 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.

Featured stories

Want to see what other hedge funds own SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited (NYSE:SLB – Free Report).

Get news and reviews for Schlumberger Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Schlumberger and related companies with MarketBeat.com’s FREE daily email newsletter.