Norris Perne & French LLP MI Has $248,000 Position in Schlumberger Limited (NYSE:SLB)

Norris Perne & French LLP MI boosted its stake in shares of Schlumberger Limited (NYSE:SLB) by 7.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,524 shares of the oil and gas company’s stock after buying an additional 312 shares during the quarter. Norris Perne & French LLP MI’s holdings in Schlumberger were worth $248,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. KRS Capital Management LLC lifted its holdings in Schlumberger by 14.7% during the 1st quarter. KRS Capital Management LLC now owns 9,657 shares of the oil and gas company’s stock worth $529,000 after buying an additional 1,238 shares during the period. Financial Management Professionals Inc. lifted its stake in shares of Schlumberger by 139.9% in the 1st quarter. Financial Management Professionals Inc. now owns 13,384 shares of the oil and gas company’s stock valued at $734,000 after purchasing an additional 7,805 shares during the period. Register Financial Advisors LLC acquired a new position in shares of Schlumberger in the 1st quarter valued at about $27,000. Capital Asset Advisory Services LLC lifted its stake in shares of Schlumberger by 19.5% in the 1st quarter. Capital Asset Advisory Services LLC now owns 12,681 shares of the oil and gas company’s stock valued at $698,000 after purchasing an additional 2,071 shares during the period. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of Schlumberger in the 1st quarter valued at about $502,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Schlumberger

In other news, insider Bejar Carmen Rando sold 4,980 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was 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 in the company, valued at approximately $977,956.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Bejar Carmen Rando sold 4,980 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was 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 in the company, valued at approximately $977,956.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Demosthenis Pafitis sold 63,095 shares of the business’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 value of $3,044,964.70. Following the completion of the transaction, the chief technology officer now owns 33,421 shares in the company, valued at approximately $1,612,897.46. The disclosure for this sale can be found here. Insiders have sold 106,158 shares of company stock worth $5,099,893 in the last 90 days. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB opened at $47.18 on Friday. 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 has a 50 day moving average price of $46.69 and a two-hundred day moving average price of $49.61. The firm has a market capitalization of $67.44 billion, a P/E ratio of 15.67, a P/E/G ratio of 0.91 and a beta of 1.57. Schlumberger Limited has a 52 week low of $42.61 and a 52 week high of $62.12.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. The firm 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 EPS. Equities analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current fiscal 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 paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date of this dividend is Wednesday, June 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is presently 36.54%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on SLB. HSBC reissued a “buy” rating and issued a $71.00 price objective on shares of Schlumberger in a research note on Thursday, April 4th. Barclays dropped their price objective on Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Benchmark reissued a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Tuesday, June 25th. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Finally, Royal Bank of Canada boosted their price objective on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus 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.