Olstein Capital Management L.P. Has $8.17 Million Position in Schlumberger Limited (NYSE:SLB)

Olstein Capital Management L.P. boosted its position in Schlumberger Limited (NYSE:SLB) by 10.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 149,000 shares of the oil and gas company’s stock after buying an additional 14,000 shares during the quarter. Olstein Capital Management L.P.’s holdings in Schlumberger were worth $8,167,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Schlumberger in the fourth quarter worth $1,000,292,000. Price T Rowe Associates Inc. MD increased its stake in Schlumberger by 12.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock valued at $3,922,768,000 after buying an additional 8,617,971 shares during the last quarter. Winslow Capital Management LLC boosted its stake in shares of Schlumberger by 123,063.5% during the 4th quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock worth $226,253,000 after buying an additional 4,344,141 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of Schlumberger by 79.7% during the 3rd quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock worth $286,835,000 after buying an additional 2,182,706 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Schlumberger by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock valued at $6,883,928,000 after acquiring an additional 1,753,108 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the subject of several recent research reports. Barclays reduced 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. HSBC reissued a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a research note on Thursday, April 4th. Stifel Nicolaus reaffirmed a “buy” rating and set a $64.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. StockNews.com downgraded shares of Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $68.59.

Insider Activity

In related news, insider Gavin Rennick sold 38,083 shares of the stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the sale, the insider now owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Gavin Rennick sold 38,083 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Demosthenis Pafitis sold 63,095 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were 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 directly owns 33,421 shares in the company, valued at $1,612,897.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,158 shares of company stock worth $5,099,893. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

Shares of NYSE SLB traded up $0.62 during trading hours on Wednesday, reaching $47.31. 6,655,483 shares of the stock were exchanged, compared to its average volume of 11,320,893. The stock’s fifty day simple moving average is $46.58 and its 200 day simple moving average is $49.53. The firm has a market capitalization of $67.62 billion, a price-to-earnings ratio of 15.68, a P/E/G ratio of 0.91 and a beta of 1.55. Schlumberger Limited has a 52 week low of $42.61 and a 52 week 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:SLB) last posted its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share 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 during the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter last year, the firm earned $0.63 earnings per share. The company’s revenue was up 12.6% on a year-over-year basis. Sell-side analysts predict that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently announced 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 dividend yield of 2.33%. The ex-dividend date of this dividend is Wednesday, June 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is presently 36.54%.

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.