Sumitomo Mitsui Trust Holdings Inc. Decreases Stock Holdings in Schlumberger Limited (NYSE:SLB)

Sumitomo Mitsui Trust Holdings Inc. reduced its position in shares of Schlumberger Limited (NYSE:SLB) by 0.1% in the first quarter, HoldingsChannel.com reports. The firm owned 5,448,951 shares of the oil and gas company’s stock after selling 6,288 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in Schlumberger were worth $298,657,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of SLB. Register Financial Advisors LLC bought a new stake in shares of Schlumberger in the 1st quarter worth approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in Schlumberger in the fourth quarter valued at $26,000. Transcendent Capital Group LLC purchased a new position in Schlumberger during the 4th quarter valued at $32,000. Janiczek Wealth Management LLC increased its position in Schlumberger by 1,180.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 602 shares during the period. Finally, American National Bank raised its holdings in Schlumberger by 745.5% in the 4th quarter. American National Bank now owns 744 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 656 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Activity at Schlumberger

In other news, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction 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 transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Bejar Carmen Rando sold 4,980 shares of the firm’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 transaction, the insider now owns 22,518 shares of the company’s stock, valued at $977,956.74. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction that occurred 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 directly 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 a total of 106,158 shares of company stock worth $5,099,893 over the last quarter. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 1.3 %

Schlumberger stock opened at $47.30 on Thursday. Schlumberger Limited has a 12 month low of $42.61 and a 12 month high of $62.12. The stock has a fifty day simple moving average of $46.58 and a two-hundred day simple moving average of $49.53. 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 firm has a market cap of $67.61 billion, a price-to-earnings ratio of 15.71, a PEG ratio of 0.90 and a beta of 1.55.

Schlumberger (NYSE:SLB) last released 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. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. Schlumberger’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period last year, the company earned $0.63 EPS. Equities analysts predict that Schlumberger Limited will post 3.51 EPS for the current fiscal 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. This represents a $1.10 annualized dividend and a dividend 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 presently 36.54%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SLB. Susquehanna reiterated a “positive” rating and set a $77.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Morgan Stanley restated an “overweight” rating and issued a $65.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Citigroup reduced their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $64.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.59.

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.