Schlumberger Limited (NYSE:SLB) Shares Sold by Pekin Hardy Strauss Inc.

Pekin Hardy Strauss Inc. reduced its position in Schlumberger Limited (NYSE:SLB) by 17.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 31,246 shares of the oil and gas company’s stock after selling 6,650 shares during the quarter. Pekin Hardy Strauss Inc.’s holdings in Schlumberger were worth $1,626,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SLB. Royal Bank of Canada lifted its position in 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 acquiring an additional 2,182,706 shares during the period. Sanders Capital LLC grew its position in Schlumberger by 34.9% in the 3rd quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock valued at $469,693,000 after buying an additional 2,085,506 shares during the last quarter. Invesco Ltd. increased its stake in Schlumberger by 30.5% in the 3rd quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock valued at $488,020,000 after buying an additional 1,954,620 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Schlumberger by 156.3% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,974,987 shares of the oil and gas company’s stock worth $173,442,000 after buying an additional 1,814,440 shares during the last quarter. Finally, Capital Wealth Planning LLC boosted its holdings in shares of Schlumberger by 48.2% in the third quarter. Capital Wealth Planning LLC now owns 5,555,662 shares of the oil and gas company’s stock valued at $323,895,000 after acquiring an additional 1,807,061 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Price Performance

NYSE:SLB traded down $1.73 during trading hours on Tuesday, reaching $47.48. 14,129,753 shares of the company traded hands, compared to its average volume of 11,196,668. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The firm’s 50-day moving average is $51.75 and its 200-day moving average is $52.02. The stock has a market cap of $67.87 billion, a P/E ratio of 16.35, a P/E/G ratio of 0.95 and a beta of 1.60. Schlumberger Limited has a 1-year low of $42.73 and a 1-year high of $62.12.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. During the same period in the prior year, the business earned $0.63 earnings per share. The business’s revenue was up 12.6% on a year-over-year basis. Equities research analysts expect 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 will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Wednesday, June 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is currently 36.54%.

Insider Activity at Schlumberger

In other news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the completion of the sale, the chief financial officer now owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the transaction, the chief financial officer now owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 76,295 shares of company stock valued at $3,707,595. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SLB. BMO Capital Markets reduced their price objective on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Monday, April 22nd. Bank of America cut their target price on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Susquehanna restated a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. HSBC reiterated a “buy” rating and issued a $71.00 price objective on shares of Schlumberger in a research report on Thursday, April 4th. Finally, Royal Bank of Canada boosted their target price 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. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $68.72.

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.