Schlumberger Limited $SLB Shares Purchased by Cadence Bank

Cadence Bank increased its position in shares of Schlumberger Limited (NYSE:SLB) by 4.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 181,074 shares of the oil and gas company’s stock after purchasing an additional 8,251 shares during the period. Cadence Bank’s holdings in Schlumberger were worth $7,569,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Nuveen LLC acquired a new position in shares of Schlumberger during the first quarter worth $169,232,000. Scharf Investments LLC boosted its stake in Schlumberger by 20.5% in the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company’s stock valued at $69,133,000 after acquiring an additional 281,773 shares in the last quarter. Integrated Advisors Network LLC boosted its stake in Schlumberger by 810.4% in the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company’s stock valued at $3,142,000 after acquiring an additional 66,907 shares in the last quarter. Alan B Lancz & Associates Inc. acquired a new position in Schlumberger in the first quarter valued at $308,000. Finally, Stratos Investment Management LLC boosted its stake in Schlumberger by 236.0% in the first quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company’s stock valued at $6,141,000 after acquiring an additional 103,182 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Melius Research assumed coverage on shares of Schlumberger in a research note on Wednesday. They issued a “buy” rating and a $82.00 price objective for the company. UBS Group decreased their price objective on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating for the company in a research note on Wednesday. Melius assumed coverage on shares of Schlumberger in a research note on Wednesday. They issued a “buy” rating and a $82.00 price objective for the company. Barclays decreased their price objective on shares of Schlumberger from $47.00 to $46.00 and set an “overweight” rating for the company in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. reduced their target price on shares of Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, June 30th. Two research analysts have rated the stock with a Strong Buy rating, fifteen have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $52.86.

Schlumberger Stock Up 5.2%

SLB stock opened at $35.5750 on Friday. The company’s 50 day simple moving average is $34.51 and its 200-day simple moving average is $36.36. The firm has a market capitalization of $48.07 billion, a PE ratio of 12.18, a P/E/G ratio of 9.38 and a beta of 1.03. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $46.16. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.31 and a quick ratio of 0.98.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. The firm had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. Schlumberger’s revenue was down 6.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 earnings per share. Equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.2%. Schlumberger’s payout ratio is 39.04%.

Schlumberger Company 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.