Mirador Capital Partners LP Makes New Investment in Schlumberger Limited (NYSE:SLB)

Mirador Capital Partners LP bought a new stake in Schlumberger Limited (NYSE:SLB) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm bought 3,654 shares of the oil and gas company’s stock, valued at approximately $200,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in SLB. Mutual Advisors LLC bought a new position in shares of Schlumberger in the 3rd quarter valued at $273,000. Ancora Advisors LLC grew its position in Schlumberger by 3.6% in the third 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. Gotham Asset Management LLC raised its stake in Schlumberger by 10.9% during the third quarter. Gotham Asset Management LLC now owns 69,071 shares of the oil and gas company’s stock worth $4,027,000 after acquiring an additional 6,794 shares in the last quarter. Hodges Capital Management Inc. acquired a new stake in shares of Schlumberger in the 3rd quarter valued at approximately $2,525,000. Finally, Insigneo Advisory Services LLC bought a new stake in shares of Schlumberger during the 3rd quarter valued at approximately $765,000. Institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In related news, insider Gavin Rennick sold 38,083 shares of the company’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 transaction, the insider now directly owns 45,851 shares of the company’s stock, valued at approximately $2,213,686.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other 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 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 $1,612,897.46. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Gavin Rennick sold 38,083 shares of the firm’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 completion of the transaction, 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 106,158 shares of company stock valued at $5,099,893 in the last 90 days. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Trading Down 1.3 %

NYSE SLB opened at $46.58 on Tuesday. The stock has a market capitalization of $66.58 billion, a P/E ratio of 15.48, a P/E/G ratio of 0.91 and a beta of 1.55. The business has a 50 day simple moving average of $46.69 and a 200 day simple moving average of $49.61. 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 Limited has a one year low of $42.61 and a one year high of $62.12.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter last year, the firm posted $0.63 EPS. The company’s quarterly revenue was up 12.6% on a year-over-year basis. Research analysts expect 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 is Wednesday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.36%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is currently 36.54%.

Analyst Ratings Changes

SLB has been the topic of a number of research analyst reports. HSBC restated a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a research report on Thursday, April 4th. Bank of America reduced their price objective on Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. TD Cowen reduced their price target on Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Finally, Royal Bank of Canada raised their price objective on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. Two equities research 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.59.

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.