Montag A & Associates Inc. Boosts Stock Holdings in Schlumberger Limited (NYSE:SLB)

Montag A & Associates Inc. boosted its stake in Schlumberger Limited (NYSE:SLB) by 13.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,364 shares of the oil and gas company’s stock after purchasing an additional 1,435 shares during the quarter. Montag A & Associates Inc.’s holdings in Schlumberger were worth $681,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in SLB. Carolinas Wealth Consulting LLC increased its position in shares of Schlumberger by 53.5% during 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 during the last quarter. Highland Capital Management LLC lifted its holdings in shares of Schlumberger by 2,494.0% in 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 during the last quarter. Nordea Investment Management AB boosted its stake in shares of 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 purchasing an additional 380,185 shares during the period. Asset Management One Co. Ltd. grew its holdings 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 valued at $31,726,000 after purchasing an additional 35,763 shares during the last quarter. Finally, Sapient Capital LLC purchased a new stake in Schlumberger in the 4th quarter worth about $1,389,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of NYSE SLB traded up $1.75 during trading on Monday, reaching $48.17. 5,967,455 shares of the company traded hands, compared to its average volume of 11,081,622. Schlumberger Limited has a 12-month low of $42.61 and a 12-month high of $62.12. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The stock has a market cap of $68.85 billion, a P/E ratio of 16.06, a PEG ratio of 0.89 and a beta of 1.55. The firm’s fifty day simple moving average is $46.24 and its 200 day simple moving average is $49.15.

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 company 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%. Schlumberger’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.63 earnings per share. As a group, research analysts anticipate that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th were issued a $0.275 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.28%. Schlumberger’s payout ratio is presently 36.54%.

Analyst Upgrades and Downgrades

SLB has been the topic of several recent analyst reports. Citigroup reduced their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Royal Bank of Canada lifted their price objective on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Barclays cut their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. TD Cowen lowered their price objective on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, Susquehanna decreased their price target on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research note on Thursday. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $67.29.

Insider Transactions at Schlumberger

In related news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the transaction, the insider now owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Bejar Carmen Rando sold 4,980 shares of the business’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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction on 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 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. Insiders have sold a total of 106,158 shares of company stock valued at $5,099,893 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger 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.