Founders Capital Management Trims Stock Position in Schlumberger Limited (NYSE:SLB)

Founders Capital Management reduced its stake in shares of Schlumberger Limited (NYSE:SLBFree Report) by 3.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 41,889 shares of the oil and gas company’s stock after selling 1,389 shares during the quarter. Schlumberger makes up about 1.6% of Founders Capital Management’s holdings, making the stock its 23rd biggest holding. Founders Capital Management’s holdings in Schlumberger were worth $2,296,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Schlumberger in the 4th quarter worth about $26,000. Transcendent Capital Group LLC purchased a new stake in shares of Schlumberger in the 4th quarter worth about $32,000. Janiczek Wealth Management LLC grew its position in shares of Schlumberger by 1,180.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after buying an additional 602 shares during the period. Pinnacle Bancorp Inc. grew its position in shares of Schlumberger by 64.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after buying an additional 292 shares during the period. Finally, American National Bank grew its position in shares of Schlumberger by 745.5% in the 4th quarter. American National Bank now owns 744 shares of the oil and gas company’s stock worth $39,000 after buying an additional 656 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SLB. Barclays reduced their target price on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. StockNews.com cut shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. TD Cowen dropped their price target on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. HSBC reiterated a “buy” rating and issued a $71.00 price target on shares of Schlumberger in a research note on Thursday, April 4th. Finally, 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 note on Monday, April 22nd. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $69.06.

View Our Latest Research Report on SLB

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the 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 completion of the sale, the insider now directly owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the transaction, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction on 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 disclosure for this sale can be found here. Insiders sold a total of 106,158 shares of company stock valued at $5,099,893 in the last three months. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Stock Performance

Shares of NYSE SLB traded up $1.03 during midday trading on Thursday, hitting $45.47. 14,609,044 shares of the company’s stock traded hands, compared to its average volume of 11,163,216. The firm has a fifty day moving average of $47.20 and a 200 day moving average of $49.72. The stock has a market capitalization of $64.98 billion, a price-to-earnings ratio of 15.10, a price-to-earnings-growth ratio of 0.86 and a beta of 1.57. Schlumberger Limited has a 1 year low of $42.61 and a 1 year 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.

Schlumberger (NYSE:SLBGet Free Report) last released its earnings results 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 net margin of 12.72% and a return on equity of 21.88%. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. During the same period in the prior year, the firm posted $0.63 EPS. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 2.42%. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Schlumberger Company 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.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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