GAMMA Investing LLC Boosts Stock Holdings in Schlumberger Limited (NYSE:SLB)

GAMMA Investing LLC grew its stake in Schlumberger Limited (NYSE:SLB) by 9.7% in the first quarter, Holdings Channel.com reports. The firm owned 13,150 shares of the oil and gas company’s stock after acquiring an additional 1,158 shares during the quarter. GAMMA Investing LLC’s holdings in Schlumberger were worth $721,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in SLB. Loomis Sayles & Co. L P grew its position in shares of Schlumberger by 356.9% in the third quarter. Loomis Sayles & Co. L P now owns 5,834 shares of the oil and gas company’s stock valued at $340,000 after purchasing an additional 4,557 shares in the last quarter. Kestra Advisory Services LLC grew its position in shares of Schlumberger by 31.0% in the third quarter. Kestra Advisory Services LLC now owns 60,026 shares of the oil and gas company’s stock valued at $3,500,000 after purchasing an additional 14,219 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in shares of Schlumberger in the third quarter valued at approximately $2,323,000. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Schlumberger in the third quarter valued at approximately $2,955,000. Finally, Envestnet Asset Management Inc. grew its position in shares of Schlumberger by 36.4% in the third quarter. Envestnet Asset Management Inc. now owns 785,975 shares of the oil and gas company’s stock valued at $45,822,000 after purchasing an additional 209,740 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Royal Bank of Canada increased their price objective on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. HSBC reiterated a “buy” rating and issued a $71.00 price objective on shares of Schlumberger in a research report on Thursday, April 4th. TD Cowen lowered their price objective on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, Wells Fargo & Company lowered Schlumberger from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $68.00 to $53.00 in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average target price of $69.06.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction on Wednesday, May 22nd. The stock was 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 $2,213,686.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 stock was sold at an average price of $43.43, for a total transaction of $216,281.40. Following the transaction, the insider now owns 22,518 shares of the company’s stock, valued at $977,956.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was 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 disclosure for this sale can be found here. Insiders have sold a total of 106,158 shares of company stock worth $5,099,893 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 1.9 %

Shares of NYSE SLB opened at $44.44 on Thursday. The stock has a market cap of $63.52 billion, a P/E ratio of 14.76, a PEG 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 Limited has a 12-month low of $42.61 and a 12-month high of $62.12. The business’s fifty day simple moving average is $47.37 and its 200-day simple moving average is $49.75.

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. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. During the same period last year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, equities 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. Shareholders of record on Wednesday, June 5th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, June 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 2.48%. Schlumberger’s dividend payout ratio (DPR) 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.