Schlumberger Limited (NYSE:SLB) Shares Bought by State of Alaska Department of Revenue

State of Alaska Department of Revenue boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 0.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 154,854 shares of the oil and gas company’s stock after purchasing an additional 630 shares during the period. State of Alaska Department of Revenue’s holdings in Schlumberger were worth $8,487,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SLB. Turtle Creek Wealth Advisors LLC acquired a new position in Schlumberger during the fourth quarter valued at $26,000. Register Financial Advisors LLC acquired a new position in Schlumberger during the first quarter valued at $27,000. Transcendent Capital Group LLC acquired a new position in Schlumberger during the fourth quarter valued at $32,000. Janiczek Wealth Management LLC lifted 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 purchasing an additional 602 shares during the period. Finally, Pinnacle Bancorp Inc. lifted its position 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 purchasing an additional 292 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Price Performance

NYSE SLB traded up $0.61 during trading hours on Wednesday, hitting $47.30. 6,655,483 shares of the company’s stock traded hands, compared to its average volume of 11,320,893. Schlumberger Limited has a 52-week low of $42.61 and a 52-week high of $62.12. The company has a market capitalization of $67.61 billion, a PE ratio of 15.71, a PEG ratio of 0.91 and a beta of 1.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The firm’s 50-day moving average is $46.58 and its 200-day moving average is $49.53.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.75. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. Schlumberger’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 EPS. Equities analysts forecast that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.33%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s payout ratio is presently 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total value of $1,838,647.24. Following the transaction, the insider now directly owns 45,851 shares in the company, valued at approximately $2,213,686.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total value of $1,838,647.24. Following the transaction, the insider now directly owns 45,851 shares in the company, valued at approximately $2,213,686.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the chief technology officer now owns 33,421 shares in the company, valued at $1,612,897.46. The disclosure for this sale can be found here. Insiders have sold 106,158 shares of company stock worth $5,099,893 in the last ninety days. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on SLB. Wells Fargo & Company cut shares of Schlumberger from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $68.00 to $53.00 in a report on Monday, April 29th. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price objective 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 report on Wednesday, April 3rd. Benchmark reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a report on Tuesday, June 25th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $68.59.

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.