Sunbelt Securities Inc. Has $578,000 Position in Schlumberger Limited (NYSE:SLB)

Sunbelt Securities Inc. boosted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 2.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,551 shares of the oil and gas company’s stock after buying an additional 230 shares during the period. Sunbelt Securities Inc.’s holdings in Schlumberger were worth $578,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in SLB. O Shaughnessy Asset Management LLC raised its holdings in shares of Schlumberger by 25.2% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 98,762 shares of the oil and gas company’s stock worth $5,758,000 after acquiring an additional 19,909 shares during the last quarter. Mutual Advisors LLC purchased a new stake in shares of Schlumberger in the third quarter worth approximately $273,000. Synovus Financial Corp lifted its holdings in shares of Schlumberger by 1.5% in the third quarter. Synovus Financial Corp now owns 74,336 shares of the oil and gas company’s stock valued at $4,334,000 after purchasing an additional 1,067 shares in the last quarter. Tower Research Capital LLC TRC boosted its position in shares of Schlumberger by 5.8% during the third quarter. Tower Research Capital LLC TRC now owns 65,930 shares of the oil and gas company’s stock valued at $3,844,000 after buying an additional 3,602 shares during the last quarter. Finally, Itau Unibanco Holding S.A. bought a new stake in Schlumberger during the third quarter worth $370,000. 81.99% of the stock is owned by institutional investors.

Schlumberger Trading Down 2.7 %

Shares of SLB stock opened at $46.22 on Thursday. The stock has a market capitalization of $66.06 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 0.91 and a beta of 1.57. The company’s fifty day simple moving average is $46.92 and its two-hundred day simple moving average is $49.66. Schlumberger Limited has a 1 year low of $42.61 and a 1 year 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 released its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same period in the previous year, the company posted $0.63 EPS. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, analysts anticipate that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently announced 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. This represents a $1.10 dividend on an annualized basis and a yield of 2.38%. The ex-dividend date of this dividend is Wednesday, June 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is 36.54%.

Insiders Place Their Bets

In related news, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the sale, the insider now owns 22,518 shares in the company, valued at $977,956.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Bejar Carmen Rando sold 4,980 shares of the business’s 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 completion of the sale, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CTO Demosthenis Pafitis sold 63,095 shares of the company’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 sale, the chief technology officer now owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The disclosure for this sale can be found here. Insiders have sold 106,158 shares of company stock worth $5,099,893 in the last three months. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SLB shares. Royal Bank of Canada raised their price objective on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. BMO Capital Markets dropped 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. StockNews.com downgraded shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. TD Cowen dropped their target price on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, Wells Fargo & Company downgraded Schlumberger from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $68.00 to $53.00 in a research note on Monday, April 29th. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average 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.