First PREMIER Bank Acquires 330 Shares of Schlumberger Limited (NYSE:SLB)

First PREMIER Bank lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 14.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,615 shares of the oil and gas company’s stock after acquiring an additional 330 shares during the period. First PREMIER Bank’s holdings in Schlumberger were worth $144,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Norges Bank bought a new stake in Schlumberger in the fourth quarter valued at $1,000,292,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Schlumberger by 12.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock valued at $3,922,768,000 after purchasing an additional 8,617,971 shares in the last quarter. Winslow Capital Management LLC increased its position in shares of Schlumberger by 123,063.5% during the 4th quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock worth $226,253,000 after purchasing an additional 4,344,141 shares in the last quarter. Royal Bank of Canada lifted its holdings in Schlumberger by 79.7% during the 3rd quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock valued at $286,835,000 after purchasing an additional 2,182,706 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Schlumberger by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock valued at $6,883,928,000 after purchasing an additional 1,753,108 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Wells Fargo & Company lowered shares of Schlumberger from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $68.00 to $53.00 in a report on Monday, April 29th. The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. TD Cowen decreased their target price on Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Royal Bank of Canada lifted their price target on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. Finally, StockNews.com cut shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Two equities 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, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $69.06.

Insider Transactions at Schlumberger

In related news, CTO Demosthenis Pafitis sold 63,095 shares of the firm’s 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 sale, the chief technology officer now owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction dated Tuesday, May 14th. The stock was 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 in the company, valued at $1,612,897.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gavin Rennick sold 38,083 shares of Schlumberger stock in a transaction dated 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 transaction, the insider now 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 a total of 106,158 shares of company stock valued at $5,099,893 over the last three months. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Stock Up 4.0 %

Shares of Schlumberger stock opened at $47.50 on Tuesday. The business has a fifty day simple moving average of $46.99 and a 200 day simple moving average of $49.67. The stock has a market cap of $67.89 billion, a PE ratio of 15.78, a price-to-earnings-growth ratio of 0.88 and a beta of 1.58. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 12 month low of $42.61 and a 12 month high of $62.12.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.63 EPS. Research analysts predict that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 2.32%. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Schlumberger 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.