Schlumberger Limited (NYSE:SLB) Holdings Raised by Welch Group LLC

Welch Group LLC boosted its stake in Schlumberger Limited (NYSE:SLB) by 6.2% in the first quarter, Holdings Channel reports. The institutional investor owned 5,189 shares of the oil and gas company’s stock after acquiring an additional 302 shares during the quarter. Welch Group LLC’s holdings in Schlumberger were worth $284,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. CI Investments Inc. raised its holdings in shares of Schlumberger by 4.9% during the 3rd quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock valued at $241,000 after purchasing an additional 192 shares in the last quarter. Hilltop Holdings Inc. grew its stake in Schlumberger by 2.1% in the 4th quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock valued at $560,000 after buying an additional 219 shares during the last quarter. Investment Advisory Services Inc. TX ADV grew its stake in Schlumberger by 1.9% in the 4th quarter. Investment Advisory Services Inc. TX ADV now owns 12,196 shares of the oil and gas company’s stock valued at $635,000 after buying an additional 228 shares during the last quarter. Horizon Bancorp Inc. IN grew its stake in Schlumberger by 7.0% in the 4th quarter. Horizon Bancorp Inc. IN now owns 3,586 shares of the oil and gas company’s stock valued at $187,000 after buying an additional 236 shares during the last quarter. Finally, Ancora Advisors LLC grew its stake in Schlumberger by 3.6% in the 3rd quarter. Ancora Advisors LLC now owns 6,819 shares of the oil and gas company’s stock valued at $398,000 after buying an additional 240 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 2.3 %

Shares of NYSE:SLB opened at $45.47 on Friday. Schlumberger Limited has a one year low of $42.61 and a one year high of $62.12. The company has a 50 day moving average of $47.20 and a 200-day moving average of $49.72. 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 stock has a market cap of $64.98 billion, a price-to-earnings ratio of 15.10, a P/E/G ratio of 0.86 and a beta of 1.57.

Schlumberger (NYSE:SLB) last released its quarterly earnings data 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 net margin of 12.72% and a return on equity of 21.88%. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same quarter last year, the firm earned $0.63 EPS. Schlumberger’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, sell-side analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.275 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.42%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Analyst Ratings Changes

SLB has been the topic of several research analyst reports. Royal Bank of Canada raised their price target on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. BMO Capital Markets decreased their price target on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. HSBC reaffirmed a “buy” rating and set a $71.00 price objective on shares of Schlumberger in a report on Thursday, April 4th. Bank of America reduced their price objective on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Finally, Wells Fargo & Company downgraded shares of Schlumberger from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $68.00 to $53.00 in a report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.06.

Insider Buying and Selling

In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of Schlumberger stock in a transaction that occurred 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 transaction, the insider now owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of Schlumberger stock in a transaction that occurred 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 transaction, the insider now owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction that occurred on 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 transaction, the chief technology officer now directly owns 33,421 shares in the company, valued at approximately $1,612,897.46. The disclosure for this sale can be found here. Insiders have sold 106,158 shares of company stock valued at $5,099,893 in the last 90 days. 0.26% of the stock is owned by insiders.

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.