Blume Capital Management Inc. Increases Stock Position in Schlumberger Limited (NYSE:SLB)

Blume Capital Management Inc. lifted its holdings in Schlumberger Limited (NYSE:SLB) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,023 shares of the oil and gas company’s stock after purchasing an additional 2,813 shares during the quarter. Blume Capital Management Inc.’s holdings in Schlumberger were worth $2,083,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BluePath Capital Management LLC purchased a new position in Schlumberger in the third quarter worth about $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Schlumberger in the fourth quarter worth approximately $26,000. Janiczek Wealth Management LLC grew its position in Schlumberger by 1,180.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 602 shares during the period. Pinnacle Bancorp Inc. increased its holdings in Schlumberger by 64.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 292 shares during the last quarter. Finally, Motco raised its position in Schlumberger by 52.7% in the third quarter. Motco now owns 823 shares of the oil and gas company’s stock worth $48,000 after acquiring an additional 284 shares during the period. 81.99% of the stock is owned by institutional investors.

Schlumberger Stock Performance

SLB stock traded up $0.55 during trading on Thursday, hitting $48.41. 1,292,102 shares of the company traded hands, compared to its average volume of 10,961,803. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. Schlumberger Limited has a 1 year low of $42.73 and a 1 year high of $62.12. The stock’s 50-day simple moving average is $51.62 and its 200 day simple moving average is $51.51. The company has a market cap of $69.19 billion, a PE ratio of 16.13, a P/E/G ratio of 0.92 and a beta of 1.64.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. The firm had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the firm earned $0.63 EPS. On average, equities analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.27%. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Wall Street Analyst Weigh In

SLB has been the topic of a number of analyst reports. Bank of America lowered their target price on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Wells Fargo & Company lowered Schlumberger from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $68.00 to $53.00 in a research note on Monday, April 29th. Benchmark reissued a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a report on Monday, April 22nd. Royal Bank of Canada lifted their price objective on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Finally, TD Cowen cut their target price on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $68.72.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the sale, the chief financial officer now owns 242,932 shares in the company, valued at approximately $11,816,212.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.