Stanley Laman Group Ltd. Reduces Stock Position in Schlumberger Limited (NYSE:SLB)

Stanley Laman Group Ltd. trimmed its stake in shares of Schlumberger Limited (NYSE:SLB) by 5.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 65,071 shares of the oil and gas company’s stock after selling 3,738 shares during the period. Stanley Laman Group Ltd.’s holdings in Schlumberger were worth $3,386,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC grew its holdings in Schlumberger by 14.1% in the third quarter. Global Retirement Partners LLC now owns 3,563 shares of the oil and gas company’s stock valued at $199,000 after purchasing an additional 440 shares during the last quarter. DAVENPORT & Co LLC grew its stake in Schlumberger by 0.9% in the 3rd quarter. DAVENPORT & Co LLC now owns 54,995 shares of the oil and gas company’s stock valued at $3,206,000 after acquiring an additional 506 shares during the last quarter. GHP Investment Advisors Inc. increased its holdings in Schlumberger by 68.8% during the 3rd quarter. GHP Investment Advisors Inc. now owns 1,722 shares of the oil and gas company’s stock valued at $102,000 after acquiring an additional 702 shares in the last quarter. Exchange Traded Concepts LLC raised its position in Schlumberger by 3,008.8% during the third quarter. Exchange Traded Concepts LLC now owns 6,031 shares of the oil and gas company’s stock worth $352,000 after acquiring an additional 5,837 shares during the last quarter. Finally, Miller Howard Investments Inc. NY lifted its holdings in shares of Schlumberger by 0.5% in the third quarter. Miller Howard Investments Inc. NY now owns 32,845 shares of the oil and gas company’s stock valued at $1,915,000 after purchasing an additional 176 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on SLB. Stifel Nicolaus reissued a “buy” rating and set a $64.00 price objective on shares of Schlumberger in a research note on Monday. Barclays dropped their price target on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Bank of America reduced their price objective on Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday. The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Finally, BMO Capital Markets cut their target price on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $69.67.

Schlumberger Trading Up 0.7 %

Shares of SLB traded up $0.34 during trading hours on Thursday, hitting $49.45. The stock had a trading volume of 7,965,899 shares, compared to its average volume of 11,221,724. The company’s fifty day simple moving average is $51.73 and its 200 day simple moving average is $52.23. Schlumberger Limited has a 12-month low of $42.73 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 firm has a market cap of $70.58 billion, a P/E ratio of 16.43, a P/E/G ratio of 0.96 and a beta of 1.60.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates 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 the consensus estimate of $8.70 billion. During the same period last year, the business posted $0.63 EPS. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. Equities research analysts forecast that Schlumberger Limited will post 3.5 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a dividend of $0.275 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s payout ratio is currently 36.54%.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction 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 transaction, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the transaction, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of the 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 completion of the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. Insiders sold a total of 90,545 shares of company stock worth $4,458,430 over the last ninety days. 0.26% of the stock is owned by company insiders.

Schlumberger Company 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.