Schlumberger Limited (NYSE:SLB) Shares Acquired by NBC Securities Inc.

NBC Securities Inc. raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 5.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,873 shares of the oil and gas company’s stock after acquiring an additional 420 shares during the period. NBC Securities Inc.’s holdings in Schlumberger were worth $431,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SLB. Norges Bank acquired a new stake in shares of Schlumberger during the fourth quarter valued at about $1,000,292,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Schlumberger by 12.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock valued at $3,922,768,000 after purchasing an additional 8,617,971 shares during the period. Winslow Capital Management LLC boosted its stake in shares of Schlumberger by 123,063.5% in the fourth quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock valued at $226,253,000 after purchasing an additional 4,344,141 shares during the period. Royal Bank of Canada boosted its stake in shares of Schlumberger by 79.7% in the third quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock valued at $286,835,000 after purchasing an additional 2,182,706 shares during the period. Finally, Vanguard Group Inc. boosted its stake in shares of Schlumberger by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock valued at $6,883,928,000 after purchasing an additional 1,753,108 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have recently commented on SLB shares. Benchmark reissued a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. StockNews.com downgraded shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Bank of America decreased their price target on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. HSBC reiterated a “buy” rating and issued a $71.00 price target on shares of Schlumberger in a research note on Thursday, April 4th. Finally, Wells Fargo & Company downgraded shares of Schlumberger from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $68.00 to $53.00 in a research note on Monday, April 29th. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.06.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were 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 directly owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the business’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 transaction, the insider now directly owns 45,851 shares of the company’s stock, valued at approximately $2,213,686.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction 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 $1,612,897.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,158 shares of company stock valued at $5,099,893. 0.26% of the stock is owned by company insiders.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $45.70 on Friday. The firm’s fifty day simple moving average is $47.08 and its 200-day simple moving average is $49.68. The stock has a market capitalization of $65.32 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 0.87 and a beta of 1.57. Schlumberger Limited has a 12 month low of $42.61 and a 12 month high of $62.12. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. The business had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. As a group, equities 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. Shareholders of record on Wednesday, June 5th will be paid a $0.275 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 2.41%. The ex-dividend date is Wednesday, June 5th. Schlumberger’s payout ratio is currently 36.54%.

About Schlumberger

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.