Sumitomo Mitsui Trust Holdings Inc. Has $298.66 Million Holdings in Schlumberger Limited (NYSE:SLB)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in shares of Schlumberger Limited (NYSE:SLB) by 0.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,448,951 shares of the oil and gas company’s stock after selling 6,288 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.38% of Schlumberger worth $298,657,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC acquired a new stake in Schlumberger in the 4th quarter valued at about $26,000. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger in the first quarter valued at approximately $27,000. Transcendent Capital Group LLC bought a new position in shares of Schlumberger during the 4th quarter worth approximately $32,000. Janiczek Wealth Management LLC increased its holdings 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 worth $34,000 after acquiring an additional 602 shares during the last quarter. Finally, Pinnacle Bancorp Inc. raised its stake in Schlumberger by 64.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 292 shares during the period. 81.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Wells Fargo & Company cut shares of Schlumberger from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $68.00 to $53.00 in a research report on Monday, April 29th. Royal Bank of Canada lifted their target price on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. Bank of America lowered their price target on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. StockNews.com downgraded shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Finally, Barclays decreased their target price on Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $68.59.

Schlumberger Stock Performance

NYSE SLB opened at $47.30 on Thursday. The firm’s 50 day simple moving average is $46.58 and its 200 day simple moving average is $49.53. The firm has a market capitalization of $67.61 billion, a price-to-earnings ratio of 15.71, a P/E/G ratio of 0.90 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 Limited has a 1 year low of $42.61 and a 1 year high of $62.12.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share 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 for the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter last year, the business posted $0.63 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. As a group, research analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business 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 is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.33%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is 36.54%.

Insider Transactions at Schlumberger

In related news, insider Gavin Rennick sold 38,083 shares of the company’s stock in a transaction that occurred on Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the completion of the transaction, the insider now directly owns 45,851 shares in the company, valued at approximately $2,213,686.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Bejar Carmen Rando sold 4,980 shares of the company’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 completion of the transaction, the insider now 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 accessible through this link. Also, insider Gavin Rennick sold 38,083 shares of Schlumberger stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the sale, the insider now owns 45,851 shares in the company, valued at $2,213,686.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,158 shares of company stock valued at $5,099,893. 0.26% of the stock is currently owned by insiders.

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.