Hexagon Capital Partners LLC Acquires 327 Shares of Schlumberger Limited (NYSE:SLB)

Hexagon Capital Partners LLC grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 8.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,433 shares of the oil and gas company’s stock after acquiring an additional 327 shares during the quarter. Hexagon Capital Partners LLC’s holdings in Schlumberger were worth $243,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Carolinas Wealth Consulting LLC grew its position in Schlumberger by 53.5% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 683 shares during the period. Highland Capital Management LLC increased its position in Schlumberger by 2,494.0% during the fourth quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock valued at $5,278,000 after acquiring an additional 97,516 shares during the last quarter. Nordea Investment Management AB increased its position in Schlumberger by 36.4% during the fourth quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock valued at $74,080,000 after acquiring an additional 380,185 shares during the last quarter. Asset Management One Co. Ltd. lifted its holdings in Schlumberger by 6.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock valued at $31,726,000 after acquiring an additional 35,763 shares during the period. Finally, Sapient Capital LLC bought a new stake in shares of Schlumberger during the 4th quarter valued at about $1,389,000. 81.99% of the stock is currently owned by institutional investors.

Insider Activity

In other Schlumberger news, 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 transaction of $3,044,964.70. Following the sale, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. 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 value of $216,281.40. Following the sale, the insider now 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 Trading Down 1.3 %

Shares of SLB stock opened at $46.58 on Tuesday. The stock’s 50-day moving average price is $46.69 and its 200-day moving average price is $49.61. Schlumberger Limited has a 12-month low of $42.61 and a 12-month high of $62.12. The stock has a market capitalization of $66.58 billion, a price-to-earnings ratio of 15.48, a price-to-earnings-growth 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 posted its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. During the same period in the prior year, the company earned $0.63 EPS. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. Equities research analysts predict that Schlumberger Limited will post 3.51 EPS 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%.

Analysts Set New Price Targets

Several analysts recently issued reports on SLB shares. Wells Fargo & Company lowered shares of Schlumberger from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $68.00 to $53.00 in a research report on Monday, April 29th. Citigroup reduced their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday. BMO Capital Markets lowered their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Bank of America reduced their price target on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, TD Cowen decreased their target price on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.