Cullen Investment Group LTD. Sells 684 Shares of Schlumberger Limited (NYSE:SLB)

Cullen Investment Group LTD. cut its holdings in Schlumberger Limited (NYSE:SLB) by 6.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,575 shares of the oil and gas company’s stock after selling 684 shares during the period. Cullen Investment Group LTD.’s holdings in Schlumberger were worth $578,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Carolinas Wealth Consulting LLC lifted its stake in Schlumberger by 53.5% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 683 shares during the last quarter. Highland Capital Management LLC lifted its stake in Schlumberger by 2,494.0% in the fourth quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock valued at $5,278,000 after purchasing an additional 97,516 shares during the last quarter. Nordea Investment Management AB lifted its stake in Schlumberger by 36.4% in the fourth quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock valued at $74,080,000 after purchasing an additional 380,185 shares during the last quarter. Asset Management One Co. Ltd. lifted its stake 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 last quarter. Finally, Sapient Capital LLC purchased a new position in Schlumberger in the fourth quarter valued at approximately $1,389,000. 81.99% of the stock is owned by institutional investors.

Insider Transactions at Schlumberger

In other 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 completion of 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 SEC, which is accessible through the SEC website. In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now directly owns 22,518 shares in the company, valued at $977,956.74. The sale 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 firm’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 completion of the sale, the chief technology officer now owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,158 shares of company stock worth $5,099,893. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. TD Cowen dropped their price objective on Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Susquehanna restated a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Finally, Barclays dropped their target price on Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and sixteen have given 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 target price of $69.06.

Schlumberger Stock Up 1.9 %

Shares of NYSE:SLB opened at $44.44 on Thursday. The stock’s 50-day moving average price is $47.37 and its 200-day moving average price is $49.75. Schlumberger Limited has a 12-month low of $42.61 and a 12-month high of $62.12. The stock has a market capitalization of $63.52 billion, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 0.86 and a beta of 1.57. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49.

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 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 revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the firm earned $0.63 earnings per share. On average, equities analysts anticipate that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio is currently 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.