Griffin Asset Management Inc. Has $3.92 Million Stake in Schlumberger Limited (NYSE:SLB)

Griffin Asset Management Inc. increased its stake in Schlumberger Limited (NYSE:SLB) by 0.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 71,537 shares of the oil and gas company’s stock after purchasing an additional 422 shares during the quarter. Griffin Asset Management Inc.’s holdings in Schlumberger were worth $3,921,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Schlumberger during the fourth quarter valued at about $26,000. Register Financial Advisors LLC bought a new position in Schlumberger in the first quarter worth approximately $27,000. Transcendent Capital Group LLC acquired a new stake in Schlumberger in the fourth quarter valued at approximately $32,000. Janiczek Wealth Management LLC increased its holdings in shares of Schlumberger by 1,180.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 602 shares in the last quarter. Finally, Pinnacle Bancorp Inc. raised its position in shares of Schlumberger by 64.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 292 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of Schlumberger stock traded up $0.17 during trading hours on Friday, hitting $47.18. 14,139,873 shares of the company’s stock traded hands, compared to its average volume of 14,274,646. The company has a fifty day simple moving average of $46.69 and a 200-day simple moving average of $49.60. 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 stock has a market capitalization of $67.44 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 0.90 and a beta of 1.57. Schlumberger Limited has a 12-month low of $42.61 and a 12-month high of $62.12.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 earnings per share. 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 paid a $0.275 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.33%. Schlumberger’s dividend payout ratio is presently 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction on 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 sale, the chief technology officer now directly owns 33,421 shares in the company, valued at $1,612,897.46. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total value of $3,044,964.70. Following the sale, the chief technology officer now owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the transaction, the insider now directly owns 22,518 shares of the company’s stock, valued at $977,956.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,158 shares of company stock valued at $5,099,893. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of several research reports. BMO Capital Markets reduced their price target 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. Morgan Stanley reiterated an “overweight” rating and set a $65.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Barclays cut their price target on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $64.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $68.59.

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.