Royal Fund Management LLC Boosts Position in Schlumberger Limited (NYSE:SLB)

Royal Fund Management LLC boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 5.5% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,736 shares of the oil and gas company’s stock after acquiring an additional 1,721 shares during the quarter. Royal Fund Management LLC’s holdings in Schlumberger were worth $1,794,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Douglas Lane & Associates LLC increased its position in Schlumberger by 16.6% in the first quarter. Douglas Lane & Associates LLC now owns 782,200 shares of the oil and gas company’s stock worth $42,872,000 after buying an additional 111,426 shares in the last quarter. &PARTNERS bought a new position in Schlumberger during the first quarter valued at approximately $265,000. Central Bank & Trust Co. boosted its stake in Schlumberger by 19.8% during the first quarter. Central Bank & Trust Co. now owns 6,891 shares of the oil and gas company’s stock valued at $378,000 after buying an additional 1,137 shares during the last quarter. Sanders Morris Harris LLC bought a new position in Schlumberger during the first quarter valued at approximately $7,277,000. Finally, Rockland Trust Co. boosted its stake in Schlumberger by 767.1% during the first quarter. Rockland Trust Co. now owns 258,269 shares of the oil and gas company’s stock valued at $14,156,000 after buying an additional 228,483 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Susquehanna reissued a “positive” rating and set a $77.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. TD Cowen dropped their price target on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Benchmark reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Finally, HSBC reaffirmed a “buy” rating and issued a $71.00 price objective on shares of Schlumberger in a research note on Thursday, April 4th. Two 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.06.

Insider Activity

In other news, insider Gavin Rennick sold 38,083 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the transaction, the insider now owns 45,851 shares in the company, valued at $2,213,686.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the transaction, the insider now owns 22,518 shares in the company, valued at approximately $977,956.74. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the sale, 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 90 days. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Stock Up 2.1 %

NYSE:SLB traded up $0.98 during mid-day trading on Monday, reaching $46.64. The company’s stock had a trading volume of 993,473 shares, compared to its average volume of 11,205,956. Schlumberger Limited has a 1 year low of $42.61 and a 1 year high of $62.12. The stock has a fifty day moving average of $47.08 and a 200-day moving average of $49.67. The firm has a market capitalization of $66.66 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 0.87 and a beta of 1.57. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates 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 prior year, the firm posted $0.63 earnings per share. Equities research analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.36%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is 36.54%.

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.