Greenleaf Trust Purchases 4,501 Shares of Schlumberger Limited (NYSE:SLB)

Greenleaf Trust lifted its position in Schlumberger Limited (NYSE:SLBGet Rating) by 22.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 24,759 shares of the oil and gas company’s stock after purchasing an additional 4,501 shares during the quarter. Greenleaf Trust’s holdings in Schlumberger were worth $885,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in SLB. Busey Wealth Management lifted its position in Schlumberger by 4.1% during the 2nd quarter. Busey Wealth Management now owns 170,074 shares of the oil and gas company’s stock valued at $6,082,000 after purchasing an additional 6,669 shares during the period. Kings Point Capital Management acquired a new position in Schlumberger during the 1st quarter valued at about $28,000. Vontobel Holding Ltd. lifted its position in Schlumberger by 1.0% during the 1st quarter. Vontobel Holding Ltd. now owns 139,449 shares of the oil and gas company’s stock valued at $5,887,000 after purchasing an additional 1,386 shares during the period. Raymond James Financial Services Advisors Inc. lifted its position in Schlumberger by 76.9% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 274,158 shares of the oil and gas company’s stock valued at $11,326,000 after purchasing an additional 119,209 shares during the period. Finally, Wetherby Asset Management Inc. raised its position in shares of Schlumberger by 3.4% in the 1st quarter. Wetherby Asset Management Inc. now owns 42,352 shares of the oil and gas company’s stock valued at $1,750,000 after acquiring an additional 1,389 shares during the period. Institutional investors own 78.71% of the company’s stock.

Insider Activity at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 57,467 shares of the firm’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $54.85, for a total value of $3,152,064.95. Following the completion of the transaction, the executive vice president now directly owns 183,551 shares of the company’s stock, valued at $10,067,772.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Mogharbel Khaled Al sold 57,467 shares of the firm’s stock in a transaction on Monday, November 14th. The shares were sold at an average price of $54.85, for a total value of $3,152,064.95. Following the completion of the transaction, the executive vice president now directly owns 183,551 shares of the company’s stock, valued at $10,067,772.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Kevin Fyfe sold 6,095 shares of the firm’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $53.00, for a total transaction of $323,035.00. Following the completion of the transaction, the vice president now directly owns 35,535 shares of the company’s stock, valued at $1,883,355. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,486,483 shares of company stock valued at $196,061,819. 0.28% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SLB shares. Citigroup increased their price target on shares of Schlumberger to $62.00 in a research report on Wednesday, November 16th. HSBC increased their price target on shares of Schlumberger to $56.80 in a research report on Thursday, October 27th. Jefferies Financial Group started coverage on shares of Schlumberger in a research report on Wednesday, October 19th. They issued a “buy” rating and a $59.00 price target on the stock. Benchmark increased their price target on shares of Schlumberger to $61.00 in a research report on Tuesday, November 15th. Finally, Royal Bank of Canada increased their price target on shares of Schlumberger from $59.00 to $66.00 and gave the company an “outperform” rating in a research report on Tuesday, November 8th. Twenty research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of “Buy” and an average target price of $54.37.

Schlumberger Price Performance

Shares of SLB opened at $51.42 on Thursday. The stock has a market capitalization of $72.91 billion, a P/E ratio of 24.72, a P/E/G ratio of 0.63 and a beta of 1.87. Schlumberger Limited has a twelve month low of $27.65 and a twelve month high of $56.04. The company has a 50 day moving average of $45.77 and a 200-day moving average of $41.12. The company has a quick ratio of 1.03, a current ratio of 1.40 and a debt-to-equity ratio of 0.71.

Schlumberger (NYSE:SLBGet Rating) last issued its quarterly earnings results on Friday, October 21st. The oil and gas company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.08. The company had revenue of $7.48 billion during the quarter, compared to analysts’ expectations of $7.10 billion. Schlumberger had a net margin of 11.26% and a return on equity of 16.58%. The business’s quarterly revenue was up 27.9% on a year-over-year basis. During the same period last year, the business earned $0.36 EPS. As a group, equities research analysts forecast that Schlumberger Limited will post 2.14 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 12th. Investors of record on Wednesday, December 7th will be paid a $0.175 dividend. The ex-dividend date is Tuesday, December 6th. This represents a $0.70 annualized dividend and a dividend yield of 1.36%. Schlumberger’s dividend payout ratio is presently 33.65%.

Schlumberger Company Profile

(Get Rating)

Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

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:SLBGet Rating).

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.