Cullinan Associates Inc. Has $1.66 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Cullinan Associates Inc. grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 11.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 30,200 shares of the oil and gas company’s stock after purchasing an additional 3,100 shares during the period. Cullinan Associates Inc.’s holdings in Schlumberger were worth $1,655,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in SLB. Register Financial Advisors LLC acquired a new stake in Schlumberger in the first quarter valued at approximately $27,000. Turtle Creek Wealth Advisors LLC bought a new stake in Schlumberger during the 4th quarter valued at $26,000. Transcendent Capital Group LLC acquired a new position in Schlumberger during the fourth quarter worth $32,000. Janiczek Wealth Management LLC lifted its stake in shares of Schlumberger by 1,180.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 602 shares in the last quarter. Finally, American National Bank grew its holdings in shares of Schlumberger by 745.5% during the fourth quarter. American National Bank now owns 744 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 656 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 equities analysts recently weighed in on the stock. BMO Capital Markets dropped their price target on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. HSBC reaffirmed a “buy” rating and set a $71.00 target price on shares of Schlumberger in a research report on Thursday, April 4th. TD Cowen lowered their price target on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Tuesday, June 25th. Finally, StockNews.com cut shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $68.59.

Insider Activity at Schlumberger

In other news, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total value of $3,044,964.70. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this link. In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction that occurred 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 transaction, the insider now directly owns 22,518 shares of the company’s stock, valued at $977,956.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CTO Demosthenis Pafitis sold 63,095 shares of the company’s 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 sale, the chief technology officer now directly owns 33,421 shares of the company’s stock, 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 valued at $5,099,893 over the last three months. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Up 0.2 %

SLB stock opened at $46.69 on Wednesday. Schlumberger Limited has a twelve month low of $42.61 and a twelve month high of $62.12. The firm has a market capitalization of $66.74 billion, a PE ratio of 15.51, a PEG ratio of 0.91 and a beta of 1.55. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The stock has a 50-day simple moving average of $46.63 and a two-hundred day simple moving average of $49.57.

Schlumberger (NYSE:SLB) last released its quarterly 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. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.63 EPS. On average, equities analysts predict that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.36%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio 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.