BTC Capital Management Inc. Takes Position in Schlumberger Limited (NYSE:SLB)

BTC Capital Management Inc. bought a new stake in Schlumberger Limited (NYSE:SLB) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 7,492 shares of the oil and gas company’s stock, valued at approximately $411,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Turtle Creek Wealth Advisors LLC bought a new position in shares of Schlumberger during the 4th quarter worth approximately $26,000. Transcendent Capital Group LLC bought a new position in shares of Schlumberger in the fourth quarter valued at about $32,000. Janiczek Wealth Management LLC lifted its stake in shares of 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 worth $34,000 after buying an additional 602 shares during the last quarter. American National Bank boosted its holdings in shares of Schlumberger by 745.5% during the 4th quarter. American National Bank now owns 744 shares of the oil and gas company’s stock worth $39,000 after buying an additional 656 shares during the period. Finally, Pinnacle Bancorp Inc. grew its stake in Schlumberger by 64.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 292 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

SLB has been the subject of several research reports. TD Cowen cut their price objective on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Morgan Stanley reiterated an “overweight” rating and set a $65.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Stifel Nicolaus reissued a “buy” rating and issued a $64.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $69.06.

Schlumberger Trading Up 0.4 %

Shares of SLB stock opened at $45.66 on Friday. Schlumberger Limited has a twelve month low of $42.61 and a twelve month high of $62.12. The stock’s fifty day simple moving average is $47.08 and its 200 day simple moving average is $49.67. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $65.26 billion, a P/E ratio of 15.17, a P/E/G ratio of 0.87 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. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The firm’s revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts predict that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.41%. The ex-dividend date is Wednesday, June 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is 36.54%.

Insider Buying and Selling

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.43, for a total transaction of $216,281.40. Following the transaction, the insider now directly owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Schlumberger 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 transaction of $216,281.40. Following the completion of the transaction, the insider now owns 22,518 shares in the company, valued at approximately $977,956.74. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gavin Rennick sold 38,083 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 45,851 shares in the company, valued at $2,213,686.28. The disclosure for this sale can be found here. Insiders have sold a total of 106,158 shares of company stock valued at $5,099,893 over the last 90 days. 0.26% of the stock is owned by insiders.

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.