Schlumberger Limited (NYSE:SLB) Shares Sold by Hennessy Advisors Inc.

Hennessy Advisors Inc. trimmed its holdings in Schlumberger Limited (NYSE:SLB) by 50.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,310 shares of the oil and gas company’s stock after selling 7,500 shares during the quarter. Hennessy Advisors Inc.’s holdings in Schlumberger were worth $401,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of SLB. Turtle Creek Wealth Advisors LLC acquired a new stake in Schlumberger in the 4th quarter valued at about $26,000. Transcendent Capital Group LLC acquired a new stake in Schlumberger during the 4th quarter worth about $32,000. Janiczek Wealth Management LLC raised its holdings 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 worth $34,000 after buying an additional 602 shares during the period. Pinnacle Bancorp Inc. raised its holdings in Schlumberger by 64.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after buying an additional 292 shares during the period. Finally, American National Bank raised its holdings in 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. 81.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief technology officer now owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $1,612,897.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bejar Carmen Rando sold 4,980 shares of the 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 completion of the sale, the insider now directly owns 22,518 shares of the company’s stock, valued at $977,956.74. The disclosure for this sale can be found here. Insiders sold 106,158 shares of company stock valued at $5,099,893 over the last 90 days. 0.26% of the stock is currently owned by company insiders.

Schlumberger Trading Up 0.4 %

NYSE:SLB opened at $47.18 on Friday. The company has a market capitalization of $67.44 billion, a P/E ratio of 15.67, a P/E/G ratio of 0.90 and a beta of 1.57. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The stock’s 50 day moving average price is $46.69 and its 200 day moving average price is $49.60. Schlumberger Limited has a 52 week low of $42.61 and a 52 week 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, hitting analysts’ consensus estimates of $0.75. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.63 earnings per share. On average, research analysts forecast that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.33%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is presently 36.54%.

Wall Street Analyst Weigh In

Several research firms have issued reports on SLB. Citigroup cut their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday. Stifel Nicolaus reiterated a “buy” rating and issued a $64.00 target price on shares of Schlumberger in a report on Monday, April 22nd. StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Barclays dropped their target price on Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus 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.