Schlumberger Limited (NYSE:SLB) Shares Acquired by HM Payson & Co.

HM Payson & Co. increased its position in shares of Schlumberger Limited (NYSE:SLB) by 11.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 16,234 shares of the oil and gas company’s stock after purchasing an additional 1,723 shares during the quarter. HM Payson & Co.’s holdings in Schlumberger were worth $890,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Carolinas Wealth Consulting LLC raised its position in shares of Schlumberger by 53.5% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 683 shares during the period. Asset Management One Co. Ltd. raised its position in Schlumberger by 6.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock valued at $31,726,000 after purchasing an additional 35,763 shares during the period. National Bank of Canada FI raised its position in Schlumberger by 15.0% in the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after purchasing an additional 51,637 shares during the period. Mission Wealth Management LP purchased a new stake in Schlumberger in the first quarter valued at approximately $245,000. Finally, Sapient Capital LLC purchased a new stake in Schlumberger in the fourth quarter valued at approximately $1,389,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the company’s 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 completion of the transaction, the insider now owns 45,851 shares in the company, valued at $2,213,686.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the completion of the sale, the chief technology officer now owns 33,421 shares in the company, valued at $1,612,897.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gavin Rennick sold 38,083 shares of the stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the sale, the insider now owns 45,851 shares of the company’s stock, valued at approximately $2,213,686.28. The disclosure for this sale can be found here. Insiders sold 286,874 shares of company stock worth $14,148,517 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SLB. Susquehanna cut their target price on Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a research report on Thursday, July 11th. BMO Capital Markets cut their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Citigroup cut their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Finally, Barclays cut their price objective on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $67.56.

Schlumberger Stock Down 3.7 %

Shares of SLB stock traded down $1.73 on Friday, reaching $44.93. 11,848,368 shares of the stock were exchanged, compared to its average volume of 9,014,375. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average price is $46.31 and its 200 day moving average price is $48.91. The company has a market capitalization of $63.79 billion, a price-to-earnings ratio of 14.93, a PEG ratio of 0.99 and a beta of 1.55. Schlumberger Limited has a twelve month low of $42.61 and a twelve month high of $62.12.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter in the previous year, the firm posted $0.72 earnings per share. The company’s revenue was up 12.8% compared to the same quarter last year. As a group, sell-side analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.45%. Schlumberger’s dividend payout ratio is presently 36.54%.

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.