Schlumberger Limited (NYSE:SLB) Shares Sold by Courier Capital LLC

Courier Capital LLC trimmed its holdings in Schlumberger Limited (NYSE:SLB) by 4.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,870 shares of the oil and gas company’s stock after selling 502 shares during the period. Courier Capital LLC’s holdings in Schlumberger were worth $541,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Carolinas Wealth Consulting LLC lifted its stake in shares of Schlumberger by 53.5% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 683 shares in the last quarter. Highland Capital Management LLC lifted its position in Schlumberger by 2,494.0% during the 4th quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock worth $5,278,000 after acquiring an additional 97,516 shares in the last quarter. Nordea Investment Management AB lifted its position in Schlumberger by 36.4% during the 4th quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock worth $74,080,000 after acquiring an additional 380,185 shares in the last quarter. Asset Management One Co. Ltd. lifted its position in Schlumberger by 6.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock worth $31,726,000 after acquiring an additional 35,763 shares in the last quarter. Finally, Sapient Capital LLC acquired a new position in Schlumberger during the 4th quarter worth approximately $1,389,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Performance

SLB traded up $0.17 during trading on Friday, reaching $47.18. 12,699,412 shares of the company were exchanged, compared to its average volume of 11,397,304. The stock has a market cap of $67.44 billion, a P/E ratio of 15.72, a PEG ratio of 0.89 and a beta of 1.57. The firm has a 50 day moving average of $46.82 and a 200 day moving average of $49.63. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 52 week low of $42.61 and a 52 week high of $62.12.

Schlumberger (NYSE:SLB) last issued 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. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 EPS. On average, sell-side 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. Shareholders 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 2.33%. The ex-dividend date is Wednesday, June 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is 36.54%.

Analysts Set New Price Targets

Several equities analysts recently commented on SLB shares. Wells Fargo & Company lowered Schlumberger from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $68.00 to $53.00 in a research report on Monday, April 29th. Morgan Stanley reissued an “overweight” rating and set a $65.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. BMO Capital Markets dropped their price objective on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Benchmark restated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a report on Tuesday. Finally, Stifel Nicolaus restated a “buy” rating and set a $64.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.59.

Insiders Place Their Bets

In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the completion of the transaction, the chief technology officer now owns 33,421 shares in the company, valued at approximately $1,612,897.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the completion of the transaction, the chief technology officer now owns 33,421 shares in the company, valued at approximately $1,612,897.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,158 shares of company stock worth $5,099,893. 0.26% of the stock is owned by company insiders.

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.