Retirement Systems of Alabama Boosts Position in Schlumberger Limited (NYSE:SLB)

Retirement Systems of Alabama grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 0.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 315,047 shares of the oil and gas company’s stock after buying an additional 227 shares during the period. Retirement Systems of Alabama’s holdings in Schlumberger were worth $17,268,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. BCM Advisors LLC increased its stake in shares of Schlumberger by 1.1% during the first quarter. BCM Advisors LLC now owns 18,904 shares of the oil and gas company’s stock valued at $1,036,000 after buying an additional 204 shares during the period. Checchi Capital Advisers LLC boosted its position in shares of Schlumberger by 1.9% during the first quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock valued at $592,000 after purchasing an additional 204 shares in the last quarter. Hilltop Holdings Inc. boosted its position in shares of Schlumberger by 2.1% during the fourth quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock valued at $560,000 after purchasing an additional 219 shares in the last quarter. Investment Advisory Services Inc. TX ADV boosted its position in shares of Schlumberger by 1.9% during the fourth quarter. Investment Advisory Services Inc. TX ADV now owns 12,196 shares of the oil and gas company’s stock valued at $635,000 after purchasing an additional 228 shares in the last quarter. Finally, Sunbelt Securities Inc. boosted its position in shares of Schlumberger by 2.2% during the first quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock valued at $578,000 after purchasing an additional 230 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

Shares of NYSE:SLB traded down $1.17 during midday trading on Friday, reaching $46.14. 7,714,681 shares of the company’s stock traded hands, compared to its average volume of 11,292,719. The company has a market cap of $65.95 billion, a price-to-earnings ratio of 15.32, a P/E/G ratio of 0.91 and a beta of 1.55. 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 Limited has a one year low of $42.61 and a one year high of $62.12. The stock has a 50 day moving average of $46.50 and a 200 day moving average of $49.50.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. The firm had revenue of $8.71 billion for 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 company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. As a group, equities research analysts anticipate that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed 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 2.38%. The ex-dividend date is Wednesday, June 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is 36.54%.

Insider Activity at Schlumberger

In related news, CTO Demosthenis Pafitis sold 63,095 shares of the company’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 sale, the chief technology officer now owns 33,421 shares in the company, valued at $1,612,897.46. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total value of $1,838,647.24. Following the transaction, the insider now owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Demosthenis Pafitis sold 63,095 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was 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 in the company, valued at approximately $1,612,897.46. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 106,158 shares of company stock worth $5,099,893. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. HSBC restated a “buy” rating and set a $71.00 price target on shares of Schlumberger in a research report on Thursday, April 4th. BMO Capital Markets dropped their price target on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Benchmark restated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research report on Tuesday, June 25th. Finally, TD Cowen dropped their target price on Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.59.

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.