Lakewood Asset Management LLC Has $1.84 Million Position in Schlumberger Limited $SLB

Lakewood Asset Management LLC reduced its stake in shares of Schlumberger Limited (NYSE:SLB) by 1.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 54,333 shares of the oil and gas company’s stock after selling 926 shares during the quarter. Schlumberger comprises 1.2% of Lakewood Asset Management LLC’s holdings, making the stock its 27th largest position. Lakewood Asset Management LLC’s holdings in Schlumberger were worth $1,836,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in SLB. Nuveen LLC acquired a new position in Schlumberger in the first quarter valued at approximately $169,232,000. Scharf Investments LLC lifted its holdings in shares of Schlumberger by 20.5% during the 1st quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company’s stock valued at $69,133,000 after purchasing an additional 281,773 shares in the last quarter. Integrated Advisors Network LLC lifted its holdings in shares of Schlumberger by 810.4% during the 1st quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company’s stock valued at $3,142,000 after purchasing an additional 66,907 shares in the last quarter. Alan B Lancz & Associates Inc. bought a new position in shares of Schlumberger during the 1st quarter valued at about $308,000. Finally, Stratos Investment Management LLC lifted its holdings in shares of Schlumberger by 236.0% during the 1st quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company’s stock valued at $6,141,000 after purchasing an additional 103,182 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the transaction, the insider owned 202,201 shares of the company’s stock, valued at $7,295,412.08. This represents a 16.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.22% of the stock is currently owned by insiders.

Schlumberger Stock Performance

NYSE:SLB opened at $35.51 on Friday. The stock has a fifty day moving average price of $34.65 and a 200-day moving average price of $35.36. The company has a market cap of $53.04 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 9.86 and a beta of 1.05. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $46.15.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, topping the consensus estimate 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 prior year, the company earned $0.85 EPS. Schlumberger’s revenue for the quarter was down 6.5% on a year-over-year basis. As a group, equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on SLB shares. JPMorgan Chase & Co. cut their price objective on Schlumberger from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, June 30th. Jefferies Financial Group cut their price objective on Schlumberger from $54.00 to $53.00 and set a “buy” rating on the stock in a report on Thursday, June 26th. Zacks Research raised Schlumberger from a “strong sell” rating to a “hold” rating in a research report on Monday, September 15th. Susquehanna lowered their price target on Schlumberger from $44.00 to $42.00 and set a “positive” rating on the stock in a research report on Monday, July 21st. Finally, Wells Fargo & Company lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Sunday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $52.18.

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.