Norden Group LLC Makes New Investment in Schlumberger Limited (NYSE:SLB)

Norden Group LLC acquired a new position in shares of Schlumberger Limited (NYSE:SLB) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 73,808 shares of the oil and gas company’s stock, valued at approximately $4,046,000.

A number of other institutional investors also recently modified their holdings of SLB. Hilltop Holdings Inc. grew its position in Schlumberger by 2.1% in the fourth 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 in the last quarter. Investment Advisory Services Inc. TX ADV increased its position in shares of Schlumberger by 1.9% in the fourth 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 position in shares of Schlumberger by 2.2% in the first 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 raised its holdings in Schlumberger by 7.0% during the fourth quarter. Horizon Bancorp Inc. IN now owns 3,586 shares of the oil and gas company’s stock worth $187,000 after acquiring an additional 236 shares in the last quarter. Finally, Legacy Bridge LLC boosted its position in Schlumberger by 39.4% during the fourth quarter. Legacy Bridge LLC now owns 853 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 241 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Activity

In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction 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 owns 45,851 shares in the company, valued at approximately $2,213,686.28. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Gavin Rennick sold 38,083 shares of the stock in a transaction 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 of the company’s stock, valued at approximately $2,213,686.28. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, 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 transaction, 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. Over the last ninety days, insiders sold 106,158 shares of company stock worth $5,099,893. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SLB shares. Susquehanna reaffirmed a “positive” rating and set a $77.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Wells Fargo & Company lowered shares of Schlumberger from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $68.00 to $53.00 in a research report on Monday, April 29th. Citigroup decreased their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Benchmark restated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research note on Tuesday, June 25th. Finally, BMO Capital Markets cut their target price on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.59.

Schlumberger Stock Performance

Shares of NYSE SLB opened at $47.30 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The firm has a market cap of $67.61 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 0.90 and a beta of 1.55. The stock’s fifty day moving average price is $46.58 and its two-hundred day moving average price is $49.53. Schlumberger Limited has a one year low of $42.61 and a one year high of $62.12.

Schlumberger (NYSE:SLB) last announced its earnings results 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 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 analysts’ expectations of $8.70 billion. During the same quarter in the previous year, the business posted $0.63 earnings per share. Schlumberger’s quarterly revenue was up 12.6% on a year-over-year basis. On average, equities analysts forecast that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently announced 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 is a boost from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 2.33%. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Schlumberger Company 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.