Beacon Capital Management LLC Increases Stock Holdings in Schlumberger Limited $SLB

Beacon Capital Management LLC boosted its position in Schlumberger Limited (NYSE:SLB) by 1,062.3% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,394 shares of the oil and gas company’s stock after buying an additional 3,102 shares during the period. Beacon Capital Management LLC’s holdings in Schlumberger were worth $115,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EntryPoint Capital LLC raised its position in shares of Schlumberger by 4.5% in the 1st quarter. EntryPoint Capital LLC now owns 7,348 shares of the oil and gas company’s stock worth $307,000 after buying an additional 316 shares during the period. Heritage Wealth Management Inc. Texas raised its holdings in shares of Schlumberger by 2.2% in the 1st quarter. Heritage Wealth Management Inc. Texas now owns 14,736 shares of the oil and gas company’s stock worth $616,000 after purchasing an additional 318 shares during the period. Horizon Investments LLC raised its holdings in Schlumberger by 1.5% in the first quarter. Horizon Investments LLC now owns 22,633 shares of the oil and gas company’s stock valued at $946,000 after buying an additional 330 shares during the period. CreativeOne Wealth LLC raised its holdings in Schlumberger by 6.3% in the first quarter. CreativeOne Wealth LLC now owns 5,655 shares of the oil and gas company’s stock valued at $236,000 after buying an additional 335 shares during the period. Finally, Financial Management Professionals Inc. raised its holdings in Schlumberger by 2.0% in the first quarter. Financial Management Professionals Inc. now owns 16,851 shares of the oil and gas company’s stock valued at $704,000 after buying an additional 336 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on SLB shares. Atb Cap Markets raised shares of Schlumberger from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 1st. Barclays dropped their price target on shares of Schlumberger from $47.00 to $46.00 and set an “overweight” rating on the stock in a research note on Monday, July 21st. Jefferies Financial Group dropped their target price on Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a research report on Thursday, June 26th. Melius Research assumed coverage on Schlumberger in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price on the stock. Finally, Wells Fargo & Company downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $52.18.

Schlumberger Price Performance

Shares of NYSE SLB opened at $35.51 on Friday. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $46.15. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51. The company has a market capitalization of $53.04 billion, a price-to-earnings ratio of 12.16, a price-to-earnings-growth ratio of 9.86 and a beta of 1.05. The business has a 50 day simple moving average of $34.65 and a 200-day simple moving average of $35.36.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business had revenue of $8.55 billion during the quarter, compared to the consensus estimate of $8.51 billion. During the same period in the previous year, the business earned $0.85 EPS. The business’s quarterly revenue was down 6.5% on a year-over-year basis. As a group, equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 9th. Stockholders of record on Wednesday, September 3rd will be issued 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 dividend yield of 3.2%. Schlumberger’s dividend payout ratio is 39.04%.

Insider Activity at Schlumberger

In other news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $36.08, for a total transaction of $1,433,350.16. Following the completion of the transaction, the insider directly owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.22% of the company’s stock.

About Schlumberger

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.