Bremer Bank National Association Buys Shares of 24,187 Schlumberger Limited. (NYSE:SLB)

Bremer Bank National Association bought a new position in Schlumberger Limited. (NYSE:SLB) in the 1st quarter, HoldingsChannel reports. The fund bought 24,187 shares of the oil and gas company’s stock, valued at approximately $1,033,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SLB. CX Institutional boosted its holdings in shares of Schlumberger by 158.4% in the first quarter. CX Institutional now owns 646 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 396 shares in the last quarter. Old North State Trust LLC boosted its holdings in shares of Schlumberger by 100.2% in the first quarter. Old North State Trust LLC now owns 871 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 436 shares in the last quarter. Lenox Wealth Management Inc. boosted its holdings in shares of Schlumberger by 41.1% in the first quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 256 shares in the last quarter. Berman Capital Advisors LLC bought a new position in shares of Schlumberger in the fourth quarter valued at approximately $31,000. Finally, Riverview Trust Co boosted its holdings in shares of Schlumberger by 94.6% in the first quarter. Riverview Trust Co now owns 899 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 437 shares in the last quarter. Hedge funds and other institutional investors own 77.22% of the company’s stock.

In related news, CFO Simon Ayat sold 25,000 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $46.10, for a total transaction of $1,152,500.00. Following the completion of the sale, the chief financial officer now directly owns 255,971 shares of the company’s stock, valued at $11,800,263.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Alexander C. Juden sold 8,643 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $43.29, for a total transaction of $374,155.47. Following the sale, the insider now directly owns 70,260 shares of the company’s stock, valued at $3,041,555.40. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

SLB has been the subject of several recent analyst reports. Stifel Nicolaus upgraded shares of Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a report on Friday, June 7th. SunTrust Banks increased their price objective on shares of Schlumberger to $53.00 and gave the company a “buy” rating in a report on Tuesday, April 23rd. Goldman Sachs Group initiated coverage on shares of Schlumberger in a report on Sunday, March 10th. They issued a “buy” rating and a $55.00 price objective for the company. Barclays decreased their price objective on shares of Schlumberger from $52.00 to $49.00 and set an “equal weight” rating for the company in a report on Tuesday, April 9th. Finally, Raymond James reiterated a “hold” rating on shares of Schlumberger in a report on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $55.78.

SLB stock opened at $35.58 on Thursday. Schlumberger Limited. has a 12 month low of $34.46 and a 12 month high of $69.61. The company has a market cap of $50.09 billion, a P/E ratio of 21.96, a price-to-earnings-growth ratio of 1.47 and a beta of 1.39. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.45.

Schlumberger (NYSE:SLB) last released its earnings results on Thursday, April 18th. The oil and gas company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. Schlumberger had a net margin of 6.19% and a return on equity of 5.87%. The business had revenue of $7.88 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same period in the prior year, the business earned $0.38 earnings per share. The business’s quarterly revenue was up .6% on a year-over-year basis. Equities analysts predict that Schlumberger Limited. will post 1.57 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 5.62%. The ex-dividend date of this dividend is Tuesday, June 4th. Schlumberger’s dividend payout ratio is presently 123.46%.

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About Schlumberger

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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