HighPoint Advisor Group LLC Acquires Shares of 18,051 Schlumberger Limited (NYSE:SLB)

HighPoint Advisor Group LLC acquired a new stake in shares of Schlumberger Limited (NYSE:SLBFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 18,051 shares of the oil and gas company’s stock, valued at approximately $980,000.

A number of other hedge funds have also recently bought and sold shares of SLB. Norges Bank acquired a new position in shares of Schlumberger in the 4th quarter worth approximately $1,000,292,000. Price T Rowe Associates Inc. MD boosted its position in Schlumberger by 12.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock valued at $3,922,768,000 after purchasing an additional 8,617,971 shares during the period. Winslow Capital Management LLC boosted its position in Schlumberger by 123,063.5% during the 4th quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock valued at $226,253,000 after purchasing an additional 4,344,141 shares during the period. Royal Bank of Canada boosted its position in Schlumberger by 79.7% during the 3rd quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock valued at $286,835,000 after purchasing an additional 2,182,706 shares during the period. Finally, Vanguard Group Inc. boosted its position in Schlumberger by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock valued at $6,883,928,000 after purchasing an additional 1,753,108 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the transaction, the insider now owns 22,518 shares in the company, valued at $977,956.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the business’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total value of $1,838,647.24. Following the completion of the sale, the insider now owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Bejar Carmen Rando sold 4,980 shares of the business’s stock in a transaction dated 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 sale, the insider now directly owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The disclosure for this sale can be found here. Insiders have sold 106,158 shares of company stock worth $5,099,893 over the last 90 days. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Stock Up 1.9 %

Shares of SLB stock traded up $0.82 on Tuesday, reaching $44.45. 1,020,995 shares of the company’s stock traded hands, compared to its average volume of 11,030,799. Schlumberger Limited has a 12-month low of $42.61 and a 12-month high of $62.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The company has a market capitalization of $63.53 billion, a P/E ratio of 14.50, a price-to-earnings-growth ratio of 0.83 and a beta of 1.58. The business’s 50 day moving average price is $47.76 and its two-hundred day moving average price is $49.84.

Schlumberger (NYSE:SLBGet Free Report) last issued its quarterly 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 business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. Schlumberger’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.47%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is 36.54%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SLB shares. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Benchmark reaffirmed a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Barclays dropped their price objective on Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $64.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $69.06.

Get Our Latest Report on SLB

Schlumberger Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited (NYSE:SLBFree Report).

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.