ST Germain D J Co. Inc. Sells 2,326 Shares of Schlumberger Limited (NYSE:SLB)

ST Germain D J Co. Inc. cut its position in Schlumberger Limited (NYSE:SLB) by 0.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 691,286 shares of the oil and gas company’s stock after selling 2,326 shares during the period. Schlumberger accounts for about 1.9% of ST Germain D J Co. Inc.’s investment portfolio, making the stock its 9th biggest position. ST Germain D J Co. Inc.’s holdings in Schlumberger were worth $37,889,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Schlumberger in the fourth quarter worth about $1,000,292,000. Price T Rowe Associates Inc. MD raised its stake in shares of Schlumberger by 12.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock worth $3,922,768,000 after buying an additional 8,617,971 shares during the last quarter. Winslow Capital Management LLC raised its stake in shares of Schlumberger by 123,063.5% during the fourth 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 raised its stake in shares of Schlumberger by 79.7% during the third 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, Invesco Ltd. raised its stake in shares of Schlumberger by 30.5% during the third quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock worth $488,020,000 after buying an additional 1,954,620 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Price Performance

Shares of SLB traded up $0.81 during mid-day trading on Tuesday, reaching $44.44. The company had a trading volume of 13,064,964 shares, compared to its average volume of 11,133,739. The company’s 50 day simple moving average is $47.76 and its 200 day simple moving average is $49.84. Schlumberger Limited has a 1-year low of $42.61 and a 1-year 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 has a market capitalization of $63.52 billion, a price-to-earnings ratio of 14.80, a P/E/G ratio of 0.83 and a beta of 1.58.

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

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be paid a $0.275 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.48%. The ex-dividend date is Wednesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Activity

In related news, insider Gavin Rennick sold 38,083 shares of Schlumberger stock in a transaction that occurred on 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 sale, the insider now directly owns 45,851 shares in the company, valued at approximately $2,213,686.28. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction that occurred on 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 transaction, the insider now owns 45,851 shares in the company, valued at approximately $2,213,686.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CTO Demosthenis Pafitis sold 63,095 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief technology officer now owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The disclosure for this sale can be found here. In the last three months, insiders have sold 106,158 shares of company stock worth $5,099,893. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on SLB. Wells Fargo & Company downgraded shares of Schlumberger from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $68.00 to $53.00 in a research note on Monday, April 29th. Morgan Stanley restated an “overweight” rating and set a $65.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Bank of America cut their price target on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Susquehanna reiterated a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. Finally, Barclays lowered their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $69.06.

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.