Reliant Investment Management LLC Has $6.85 Million Holdings in Schlumberger Limited (NYSE:SLB)

Reliant Investment Management LLC lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 2.0% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 125,043 shares of the oil and gas company’s stock after selling 2,495 shares during the quarter. Schlumberger accounts for 3.2% of Reliant Investment Management LLC’s investment portfolio, making the stock its 10th biggest position. Reliant Investment Management LLC’s holdings in Schlumberger were worth $6,854,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Turtle Creek Wealth Advisors LLC acquired a new position in Schlumberger during the 4th quarter worth $26,000. Register Financial Advisors LLC acquired a new stake in Schlumberger in the first quarter worth about $27,000. Transcendent Capital Group LLC bought a new position in Schlumberger in the 4th quarter valued at about $32,000. Janiczek Wealth Management LLC increased its stake in Schlumberger by 1,180.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 602 shares during the period. Finally, Pinnacle Bancorp Inc. raised its position in shares of Schlumberger by 64.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after buying an additional 292 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Bejar Carmen Rando sold 4,980 shares of the 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 sale, the insider now owns 22,518 shares in the company, valued at approximately $977,956.74. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger 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 completion of the transaction, the chief technology officer now owns 33,421 shares in the company, valued at $1,612,897.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $216,281.40. Following the transaction, the insider now owns 22,518 shares in the company, valued at approximately $977,956.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 106,158 shares of company stock valued at $5,099,893. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on SLB shares. Royal Bank of Canada raised their price objective on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. HSBC reissued a “buy” rating and issued a $71.00 price objective on shares of Schlumberger in a research note on Thursday, April 4th. Susquehanna reaffirmed a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Finally, Barclays reduced their price objective on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $68.59.

Schlumberger Stock Up 0.4 %

NYSE SLB traded up $0.17 during trading on Friday, reaching $47.18. The company’s stock had a trading volume of 14,139,873 shares, compared to its average volume of 14,274,646. 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 capitalization of $67.44 billion, a PE ratio of 15.67, a PEG ratio of 0.90 and a beta of 1.57. Schlumberger Limited has a 1-year low of $42.61 and a 1-year high of $62.12. The business has a 50-day moving average price of $46.69 and a 200-day moving average price of $49.60.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data 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. The business had revenue of $8.71 billion for 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%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same period last year, the business earned $0.63 EPS. On average, research analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.33%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger’s dividend payout ratio is 36.54%.

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.