InTrack Investment Management Inc Sells 929 Shares of Schlumberger Limited (NYSE:SLB)

InTrack Investment Management Inc trimmed its stake in Schlumberger Limited (NYSE:SLB) by 9.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,809 shares of the oil and gas company’s stock after selling 929 shares during the period. InTrack Investment Management Inc’s holdings in Schlumberger were worth $483,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Hilltop Holdings Inc. boosted its holdings in Schlumberger by 2.1% in the fourth quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock valued at $560,000 after acquiring an additional 219 shares during the last quarter. Investment Advisory Services Inc. TX ADV lifted its stake in shares of Schlumberger by 1.9% in the 4th quarter. Investment Advisory Services Inc. TX ADV now owns 12,196 shares of the oil and gas company’s stock valued at $635,000 after purchasing an additional 228 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in shares of Schlumberger by 2.2% during the 1st quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock worth $578,000 after purchasing an additional 230 shares during the period. Horizon Bancorp Inc. IN increased its position in Schlumberger by 7.0% during the 4th quarter. Horizon Bancorp Inc. IN now owns 3,586 shares of the oil and gas company’s stock worth $187,000 after purchasing an additional 236 shares in the last quarter. Finally, Ancora Advisors LLC raised its holdings in Schlumberger by 3.6% in the third quarter. Ancora Advisors LLC now owns 6,819 shares of the oil and gas company’s stock valued at $398,000 after buying an additional 240 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the sale, the insider now owns 22,518 shares in the company, valued at $977,956.74. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the sale, the insider now directly owns 22,518 shares in the company, valued at $977,956.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the transaction, the chief technology officer now owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The disclosure for this sale can be found here. In the last three months, insiders sold 106,158 shares of company stock valued at $5,099,893. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on SLB shares. BMO Capital Markets decreased their price objective on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. Bank of America cut their price objective on Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Tuesday, June 25th. Morgan Stanley reissued an “overweight” rating and set a $65.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Finally, TD Cowen decreased their price target on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $68.59.

Schlumberger Stock Up 0.2 %

Shares of SLB stock traded up $0.11 during trading hours on Tuesday, hitting $46.69. 7,921,471 shares of the company were exchanged, compared to its average volume of 11,357,920. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The stock has a market capitalization of $66.74 billion, a price-to-earnings ratio of 15.51, a P/E/G ratio of 0.91 and a beta of 1.55. Schlumberger Limited has a one year low of $42.61 and a one year high of $62.12. The business’s 50-day simple moving average is $46.63 and its two-hundred day simple moving average is $49.57.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business’s revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.63 EPS. Sell-side analysts predict that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be given a $0.275 dividend. 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 2.36%. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

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.