Diversified Trust Co Decreases Stock Holdings in Schlumberger Limited (NYSE:SLB)

Diversified Trust Co lessened its stake in shares of Schlumberger Limited (NYSE:SLB) by 17.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 21,075 shares of the oil and gas company’s stock after selling 4,537 shares during the quarter. Diversified Trust Co’s holdings in Schlumberger were worth $1,155,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Register Financial Advisors LLC purchased a new stake in Schlumberger during the 1st quarter valued at $27,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Schlumberger during the fourth quarter valued at $26,000. Transcendent Capital Group LLC purchased a new position in Schlumberger in the fourth quarter worth about $32,000. Janiczek Wealth Management LLC grew 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 valued at $34,000 after purchasing an additional 602 shares during the period. Finally, American National Bank increased its position 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 valued at $39,000 after purchasing an additional 656 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger 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 transaction, the chief technology officer now owns 33,421 shares in the company, valued at $1,612,897.46. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction 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 sale, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,158 shares of company stock worth $5,099,893. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Price Performance

NYSE:SLB opened at $46.58 on Tuesday. The business’s 50-day moving average is $46.69 and its 200 day moving average is $49.61. Schlumberger Limited has a 12 month low of $42.61 and a 12 month high of $62.12. The company has a market capitalization of $66.58 billion, a P/E ratio of 15.48, a P/E/G ratio of 0.91 and a beta of 1.55. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data 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. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. During the same period in the prior year, the firm earned $0.63 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities research 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 issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.36%. Schlumberger’s payout ratio is 36.54%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SLB shares. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. Royal Bank of Canada upped their price objective on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. HSBC reiterated a “buy” rating and set a $71.00 target price on shares of Schlumberger in a research report on Thursday, April 4th. Benchmark reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Tuesday, June 25th. Finally, Wells Fargo & Company cut Schlumberger from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $68.00 to $53.00 in a research report on Monday, April 29th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.59.

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.