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

Thurston Springer Miller Herd & Titak Inc. acquired a new position in Schlumberger Limited (NYSE:SLB) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 3,274 shares of the oil and gas company’s stock, valued at approximately $154,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger in the first quarter worth $27,000. Turtle Creek Wealth Advisors LLC acquired a new position in Schlumberger during the 4th quarter valued at $26,000. Manchester Capital Management LLC raised its stake in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares during the last quarter. Transcendent Capital Group LLC acquired a new position in Schlumberger during the 4th quarter valued at $32,000. Finally, Rational Advisors LLC acquired a new position in Schlumberger during the 1st quarter valued at $35,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently commented on SLB shares. Piper Sandler cut their target price on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research note on Monday, July 15th. StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Stifel Nicolaus reissued a “buy” rating and issued a $64.00 price target on shares of Schlumberger in a report on Monday, April 22nd. Barclays lowered their price target on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $67.56.

Schlumberger Price Performance

NYSE:SLB traded down $0.37 during mid-day trading on Tuesday, reaching $43.40. 8,361,262 shares of the company were exchanged, compared to its average volume of 11,008,346. Schlumberger Limited has a 12 month low of $42.61 and a 12 month high of $62.12. The company has a fifty day moving average of $46.26 and a 200 day moving average of $48.88. 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 stock has a market cap of $61.62 billion, a PE ratio of 14.61, a PEG ratio of 0.96 and a beta of 1.55.

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

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s dividend payout ratio is currently 36.54%.

Insiders Place Their Bets

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $977,956.74. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $977,956.74. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. The disclosure for this sale can be found here. Insiders have sold a total of 286,874 shares of company stock valued at $14,148,517 in the last 90 days. 0.26% of the stock is currently owned by insiders.

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.