Gulf International Bank UK Ltd Buys 619 Shares of Schlumberger Limited (NYSE:SLB)

Gulf International Bank UK Ltd increased its stake in Schlumberger Limited (NYSE:SLB) by 0.5% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 122,489 shares of the oil and gas company’s stock after purchasing an additional 619 shares during the period. Gulf International Bank UK Ltd’s holdings in Schlumberger were worth $6,713,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Carolinas Wealth Consulting LLC increased its position in shares of 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 worth $102,000 after purchasing an additional 683 shares during the period. Highland Capital Management LLC grew its position 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 acquiring an additional 97,516 shares during the last quarter. Nordea Investment Management AB grew its position 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 acquiring an additional 380,185 shares during the last quarter. Asset Management One Co. Ltd. grew 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 acquiring an additional 35,763 shares during the last quarter. Finally, Sapient Capital LLC bought a new position in Schlumberger in the fourth quarter valued at about $1,389,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of SLB opened at $45.66 on Friday. Schlumberger Limited has a 52-week low of $42.61 and a 52-week high of $62.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The business’s 50 day moving average price is $47.08 and its two-hundred day moving average price is $49.67. The firm has a market cap of $65.26 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 0.87 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 EPS for the quarter, meeting the consensus estimate of $0.75. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 earnings per share. On average, equities analysts anticipate that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.41%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is 36.54%.

Insider Buying and Selling

In related news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction on Friday, June 7th. The stock was 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 owns 22,518 shares in the company, valued at $977,956.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction on Friday, June 7th. The stock was 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 owns 22,518 shares in the company, valued at $977,956.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the sale, the chief technology officer now owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,158 shares of company stock worth $5,099,893. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

SLB has been the topic of a number of recent analyst reports. Bank of America decreased their target price on Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Susquehanna reissued a “positive” rating and set a $77.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Wells Fargo & Company lowered Schlumberger from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $68.00 to $53.00 in a research note on Monday, April 29th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.06.

Schlumberger 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.