Thurston Springer Miller Herd & Titak Inc. Invests $154,000 in Schlumberger Limited (NYSE:SLB)

Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Schlumberger Limited (NYSE:SLB) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 3,274 shares of the oil and gas company’s stock, valued at approximately $154,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SLB. Vanguard Group Inc. boosted its stake in Schlumberger by 1.4% in the 1st 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 during the period. Capital World Investors boosted its stake in Schlumberger by 72.3% in the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after purchasing an additional 37,333,485 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in Schlumberger by 14.1% in the 1st 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 purchasing an additional 10,606,191 shares during the period. Norges Bank bought a new position in Schlumberger in the 4th quarter worth about $1,000,292,000. Finally, Capital International Investors boosted its position in shares of Schlumberger by 0.6% during the 4th 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 last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In other news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. The disclosure for this sale can be found here. Over the last three months, insiders have sold 286,874 shares of company stock valued at $14,148,517. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 0.8 %

Shares of Schlumberger stock traded down $0.37 during midday trading on Tuesday, reaching $43.40. 8,361,262 shares of the company’s stock traded hands, compared to its average volume of 11,008,346. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The company has a market cap of $61.62 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 0.96 and a beta of 1.55. The stock has a 50 day moving average of $46.26 and a 200-day moving average of $48.88. Schlumberger Limited has a 12 month low of $42.61 and a 12 month high of $62.12.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.72 earnings per share. As a group, equities analysts expect that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.53%. Schlumberger’s payout ratio is 36.54%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SLB. Citigroup dropped their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Bank of America dropped their price target on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, July 15th. BMO Capital Markets dropped their price target on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Monday, April 22nd. Benchmark reiterated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research report on Monday, July 22nd. Finally, Piper Sandler dropped their target price on Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $67.56.

Schlumberger Profile

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.