Israel Discount Bank of New York Sells 248 Shares of Schlumberger Limited (NYSE:SLB)

Israel Discount Bank of New York decreased its holdings in Schlumberger Limited (NYSE:SLB) by 2.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,241 shares of the oil and gas company’s stock after selling 248 shares during the period. Israel Discount Bank of New York’s holdings in Schlumberger were worth $585,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. BluePath Capital Management LLC purchased a new position in Schlumberger during the third quarter valued at $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in Schlumberger during the fourth quarter worth approximately $26,000. Janiczek Wealth Management LLC increased its stake in Schlumberger by 1,180.4% during the fourth 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. Pinnacle Bancorp Inc. increased its stake in Schlumberger by 64.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 292 shares during the last quarter. Finally, Legacy Bridge LLC increased its stake in Schlumberger by 39.4% during the fourth quarter. Legacy Bridge LLC now owns 853 shares of the oil and gas company’s stock worth $44,000 after acquiring an additional 241 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. BMO Capital Markets cut their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Bank of America cut their target price on Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, Susquehanna reaffirmed a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $68.72.

Schlumberger Price Performance

SLB stock traded down $0.25 during trading on Monday, hitting $48.95. The stock had a trading volume of 5,721,578 shares, compared to its average volume of 11,114,986. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. Schlumberger Limited has a twelve month low of $42.73 and a twelve month high of $62.12. The stock has a market capitalization of $69.97 billion, a P/E ratio of 16.25, a PEG ratio of 0.95 and a beta of 1.60. The company’s 50-day moving average price is $51.74 and its two-hundred day moving average price is $52.08.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. During the same period in the previous year, the firm posted $0.63 EPS. Schlumberger’s revenue was up 12.6% compared to the same quarter last year. As a group, research analysts predict that Schlumberger Limited will post 3.51 EPS 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 dividend of $0.275 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Wednesday, June 5th. Schlumberger’s payout ratio is currently 36.54%.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the sale, the chief financial officer now directly owns 242,932 shares in the company, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. Insiders have sold a total of 76,295 shares of company stock worth $3,707,595 in the last ninety days. Insiders own 0.26% of the company’s stock.

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.