Parkside Investments LLC boosted its stake in shares of Schlumberger Limited. (NYSE:SLB) by 46.5% during the second quarter, Holdings Channel.com reports. The firm owned 34,085 shares of the oil and gas company’s stock after purchasing an additional 10,820 shares during the quarter. Parkside Investments LLC’s holdings in Schlumberger were worth $1,355,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Chesley Taft & Associates LLC boosted its position in Schlumberger by 2.1% during the second quarter. Chesley Taft & Associates LLC now owns 21,500 shares of the oil and gas company’s stock valued at $854,000 after purchasing an additional 450 shares in the last quarter. BTC Capital Management Inc. boosted its holdings in Schlumberger by 3.6% in the second quarter. BTC Capital Management Inc. now owns 88,704 shares of the oil and gas company’s stock worth $3,520,000 after acquiring an additional 3,056 shares in the last quarter. Griffin Asset Management Inc. boosted its holdings in Schlumberger by 44.3% in the first quarter. Griffin Asset Management Inc. now owns 133,874 shares of the oil and gas company’s stock worth $5,833,000 after acquiring an additional 41,076 shares in the last quarter. Manning & Napier Group LLC boosted its holdings in Schlumberger by 4.6% in the second quarter. Manning & Napier Group LLC now owns 3,437,572 shares of the oil and gas company’s stock worth $136,608,000 after acquiring an additional 152,088 shares in the last quarter. Finally, Taylor Cottrill Erickson & Associates Inc. boosted its holdings in Schlumberger by 31.2% in the first quarter. Taylor Cottrill Erickson & Associates Inc. now owns 31,794 shares of the oil and gas company’s stock worth $1,385,000 after acquiring an additional 7,566 shares in the last quarter. 77.22% of the stock is currently owned by institutional investors.

Shares of Schlumberger stock traded up $0.80 on Friday, reaching $32.45. 7,092,704 shares of the stock were exchanged, compared to its average volume of 10,323,685. The company has a quick ratio of 1.01, a current ratio of 1.39 and a debt-to-equity ratio of 0.47. Schlumberger Limited. has a twelve month low of $31.11 and a twelve month high of $65.61. The firm has a market capitalization of $47.89 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 2.17 and a beta of 1.44. The business has a 50 day moving average price of $38.34 and a two-hundred day moving average price of $40.85.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.35 EPS for the quarter, hitting the Zacks’ consensus estimate 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 during the quarter, compared to the consensus estimate of $8.11 billion. During the same quarter in the previous year, the company posted $0.43 earnings per share. The company’s revenue was down .4% compared to the same quarter last year. Research analysts forecast that Schlumberger Limited. will post 1.51 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s dividend payout ratio (DPR) is 123.46%.

Several equities research analysts have weighed in on the company. AltaCorp Capital reissued an “outperform” rating on shares of Schlumberger in a report on Thursday, June 20th. Tudor Pickering downgraded Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 price target for the company. in a report on Monday, April 22nd. Raymond James reissued a “hold” rating on shares of Schlumberger in a report on Friday, June 21st. Stifel Nicolaus raised Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Friday, June 7th. Finally, Bank of America reissued a “buy” rating and issued a $51.00 price target (down previously from $60.00) on shares of Schlumberger in a report on Tuesday, June 25th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company’s stock. Schlumberger currently has a consensus rating of “Hold” and a consensus target price of $52.17.

In related news, insider Stephanie Cox sold 24,057 shares of Schlumberger stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $40.59, for a total transaction of $976,473.63. Following the completion of the sale, the insider now owns 46,354 shares of the company’s stock, valued at $1,881,508.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Patrick Schorn sold 12,151 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $38.93, for a total value of $473,038.43. Following the sale, the executive vice president now directly owns 130,000 shares of the company’s stock, valued at approximately $5,060,900. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

Schlumberger 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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