Envestnet Portfolio Solutions Inc. Purchases 78,816 Shares of Schlumberger Limited (NYSE:SLB)

Envestnet Portfolio Solutions Inc. lifted its holdings in Schlumberger Limited (NYSE:SLB) by 93.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 163,445 shares of the oil and gas company’s stock after purchasing an additional 78,816 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Schlumberger were worth $8,958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the business. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Schlumberger in the fourth quarter worth $26,000. Register Financial Advisors LLC bought a new stake in shares of Schlumberger in the first quarter worth $27,000. Manchester Capital Management LLC grew its holdings in shares of Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares during the period. Transcendent Capital Group LLC bought a new stake in shares of Schlumberger in the fourth quarter worth $32,000. Finally, Janiczek Wealth Management LLC grew its holdings in shares of Schlumberger by 1,180.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 602 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In related news, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the transaction, the chief technology officer now owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction 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 sale, the chief technology officer now owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gavin Rennick sold 38,083 shares of the stock in a transaction on 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 sale, the insider now directly owns 45,851 shares in the company, valued at approximately $2,213,686.28. The disclosure for this sale can be found here. Insiders have sold a total of 106,158 shares of company stock valued at $5,099,893 over the last quarter. 0.26% of the stock is owned by corporate insiders.

Schlumberger Trading Up 0.5 %

Shares of NYSE SLB traded up $0.23 during midday trading on Friday, hitting $46.42. The company’s stock had a trading volume of 6,582,791 shares, compared to its average volume of 11,122,130. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The business’s 50 day moving average is $46.26 and its two-hundred day moving average is $49.26. Schlumberger Limited has a 12-month low of $42.61 and a 12-month high of $62.12. The firm has a market cap of $66.35 billion, a P/E ratio of 15.34, a price-to-earnings-growth ratio of 0.87 and a beta of 1.55.

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

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 11th. Investors of record on Wednesday, June 5th were paid a $0.275 dividend. The ex-dividend date was Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.37%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is 36.54%.

Analysts Set New Price Targets

Several analysts have issued reports on SLB shares. Susquehanna cut their price target on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a report on Thursday. HSBC reaffirmed a “buy” rating and issued a $71.00 price objective on shares of Schlumberger in a research note on Thursday, April 4th. 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. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and an average price target of $68.18.

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.