Schlumberger Limited (NYSE:SLB) Shares Purchased by Drexel Morgan & Co.

Drexel Morgan & Co. raised its position in Schlumberger Limited (NYSE:SLB) by 0.2% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 340,152 shares of the oil and gas company’s stock after buying an additional 740 shares during the quarter. Schlumberger comprises about 4.1% of Drexel Morgan & Co.’s holdings, making the stock its 8th largest position. Drexel Morgan & Co.’s holdings in Schlumberger were worth $17,702,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new position in Schlumberger during the fourth quarter worth about $26,000. Janiczek Wealth Management LLC increased its stake in 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 valued at $34,000 after purchasing an additional 602 shares in the last quarter. Pinnacle Bancorp Inc. increased its stake in Schlumberger by 64.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 292 shares in the last quarter. Motco raised its holdings in Schlumberger by 52.7% during the third quarter. Motco now owns 823 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 284 shares during the last quarter. Finally, Legacy Bridge LLC boosted its position 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 purchasing an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 0.2 %

Shares of SLB traded up $0.11 during trading hours on Thursday, hitting $48.42. The stock had a trading volume of 7,620,221 shares, compared to its average volume of 10,847,401. The firm has a market cap of $69.21 billion, a P/E ratio of 16.09, a P/E/G ratio of 0.94 and a beta of 1.64. 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 company’s fifty day simple moving average is $51.53 and its 200 day simple moving average is $51.20.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same quarter last year, the firm posted $0.63 earnings per share. Schlumberger’s revenue for the quarter was up 12.6% compared to the same quarter last year. Equities research analysts forecast that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.27%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio is 36.54%.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total value of $3,044,964.70. Following the completion of the transaction, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders have sold 119,345 shares of company stock valued at $5,774,965 over the last three months. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SLB. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. BMO Capital Markets reduced their price target on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Finally, Royal Bank of Canada raised their price target on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average target price of $68.72.

About Schlumberger

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.