Hodges Capital Management Inc. Sells 5,593 Shares of Schlumberger Limited (NYSE:SLB)

Hodges Capital Management Inc. reduced its stake in Schlumberger Limited (NYSE:SLB) by 21.7% in the first quarter, Holdings Channel.com reports. The institutional investor owned 20,190 shares of the oil and gas company’s stock after selling 5,593 shares during the period. Hodges Capital Management Inc.’s holdings in Schlumberger were worth $1,107,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Hilltop Holdings Inc. raised its position in shares of Schlumberger by 2.1% during the 4th quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock valued at $560,000 after purchasing an additional 219 shares during the period. Investment Advisory Services Inc. TX ADV increased its holdings 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 acquiring an additional 228 shares during the last quarter. Sunbelt Securities Inc. increased its holdings in Schlumberger by 2.2% in the 1st quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock valued at $578,000 after acquiring an additional 230 shares during the last quarter. Horizon Bancorp Inc. IN increased its holdings 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 acquiring an additional 236 shares during the last quarter. Finally, Ancora Advisors LLC increased its holdings 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 acquiring an additional 240 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Schlumberger Price Performance

SLB stock opened at $47.18 on Friday. Schlumberger Limited has a 12 month low of $42.61 and a 12 month high of $62.12. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $46.69 and a 200 day moving average price of $49.61. The stock has a market cap of $67.44 billion, a PE ratio of 15.67, a P/E/G ratio of 0.91 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 (EPS) for the quarter, meeting the consensus estimate of $0.75. The company had revenue of $8.71 billion during 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 firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 EPS. Equities research analysts anticipate 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. Shareholders of record on Wednesday, June 5th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.33%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger’s payout ratio is 36.54%.

Analysts Set New Price Targets

A number of brokerages have issued reports on SLB. Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a report on Tuesday, June 25th. BMO Capital Markets reduced their price target on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Bank of America reduced their target price on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Barclays reduced their target price on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $64.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $68.59.

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 dated 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 completion of the sale, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, insider Gavin Rennick sold 38,083 shares of the company’s 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 completion of the sale, the insider now 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 available through the SEC website. Also, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the completion of the sale, the chief technology officer now directly 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. Insiders sold a total of 106,158 shares of company stock valued at $5,099,893 in the last three months. Company insiders own 0.26% of the company’s stock.

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.