Endurance Wealth Management Inc. reduced its position in Schlumberger Limited (NYSE:SLB – Get Rating) by 68.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 1,683 shares of the oil and gas company’s stock after selling 3,675 shares during the quarter. Endurance Wealth Management Inc.’s holdings in Schlumberger were worth $70,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently made changes to their positions in SLB. Cetera Advisor Networks LLC increased its stake in Schlumberger by 15.6% in the 3rd quarter. Cetera Advisor Networks LLC now owns 16,172 shares of the oil and gas company’s stock valued at $479,000 after buying an additional 2,183 shares during the period. Balyasny Asset Management LLC increased its stake in Schlumberger by 1,625.7% in the 3rd quarter. Balyasny Asset Management LLC now owns 257,727 shares of the oil and gas company’s stock valued at $7,639,000 after buying an additional 242,792 shares during the period. Bedel Financial Consulting Inc. increased its stake in Schlumberger by 44.3% in the 4th quarter. Bedel Financial Consulting Inc. now owns 1,476 shares of the oil and gas company’s stock valued at $44,000 after buying an additional 453 shares during the period. First American Trust FSB increased its stake in Schlumberger by 3.0% in the 4th quarter. First American Trust FSB now owns 157,727 shares of the oil and gas company’s stock valued at $4,724,000 after buying an additional 4,625 shares during the period. Finally, DNB Asset Management AS increased its stake in Schlumberger by 5.9% in the 4th quarter. DNB Asset Management AS now owns 203,368 shares of the oil and gas company’s stock valued at $6,091,000 after buying an additional 11,382 shares during the period. 76.34% of the stock is currently owned by institutional investors.
NYSE:SLB opened at $35.76 on Friday. The firm has a market cap of $50.55 billion, a price-to-earnings ratio of 24.33, a price-to-earnings-growth ratio of 0.41 and a beta of 1.90. The company has a current ratio of 1.24, a quick ratio of 0.89 and a debt-to-equity ratio of 0.84. The company’s 50-day moving average is $41.67 and its two-hundred day moving average is $39.41. Schlumberger Limited has a 12-month low of $25.90 and a 12-month high of $49.83.
Schlumberger (NYSE:SLB – Get Rating) last released its earnings results on Friday, April 22nd. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.02. Schlumberger had a net margin of 8.84% and a return on equity of 14.02%. The company had revenue of $5.96 billion for the quarter, compared to analyst estimates of $5.90 billion. During the same period in the previous year, the firm earned $0.21 EPS. The firm’s quarterly revenue was up 14.1% on a year-over-year basis. On average, equities research analysts forecast that Schlumberger Limited will post 1.84 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 14th. Stockholders of record on Wednesday, June 1st will be paid a dividend of $0.175 per share. The ex-dividend date of this dividend is Tuesday, May 31st. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.96%. This is an increase from Schlumberger’s previous quarterly dividend of $0.13. Schlumberger’s dividend payout ratio is currently 47.62%.
In related news, insider Gavin Rennick sold 10,759 shares of the stock in a transaction that occurred on Thursday, May 26th. The shares were sold at an average price of $46.70, for a total transaction of $502,445.30. Following the completion of the sale, the insider now owns 38,044 shares of the company’s stock, valued at approximately $1,776,654.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Limited/Nv Schlumberger sold 14,500,000 shares of the stock in a transaction that occurred on Tuesday, May 3rd. The stock was sold at an average price of $15.50, for a total transaction of $224,750,000.00. Following the sale, the insider now directly owns 35,101,961 shares of the company’s stock, valued at approximately $544,080,395.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 26,567,459 shares of company stock valued at $430,840,521. Corporate insiders own 0.28% of the company’s stock.
Several equity analysts have issued reports on SLB shares. Morgan Stanley boosted their price objective on shares of Schlumberger from $43.00 to $50.00 and gave the company an “overweight” rating in a research note on Monday, April 11th. Cowen boosted their target price on shares of Schlumberger from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Thursday, March 31st. The Goldman Sachs Group upgraded shares of Schlumberger from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, March 22nd. Wells Fargo & Company decreased their target price on shares of Schlumberger from $56.00 to $55.00 and set an “overweight” rating on the stock in a research report on Monday, April 25th. Finally, Stifel Nicolaus boosted their target price on shares of Schlumberger from $44.00 to $50.00 in a research report on Friday, April 8th. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $46.85.
Schlumberger Profile: (Get Rating)
Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions. Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.
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