Oak Harvest Investment Services Purchases 107,206 Shares of Schlumberger Limited (NYSE:SLB)

Oak Harvest Investment Services increased its position in shares of Schlumberger Limited (NYSE:SLB) by 89.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 226,532 shares of the oil and gas company’s stock after purchasing an additional 107,206 shares during the period. Schlumberger accounts for approximately 2.1% of Oak Harvest Investment Services’ portfolio, making the stock its 9th largest position. Oak Harvest Investment Services’ holdings in Schlumberger were worth $12,416,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new position in Schlumberger during the fourth quarter worth approximately $26,000. Register Financial Advisors LLC acquired a new position in shares of Schlumberger in the first quarter valued at approximately $27,000. Transcendent Capital Group LLC purchased a new stake in shares of Schlumberger during the fourth quarter worth approximately $32,000. Janiczek Wealth Management LLC lifted 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 worth $34,000 after purchasing an additional 602 shares during the period. Finally, Pinnacle Bancorp Inc. grew its position in Schlumberger by 64.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 292 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

SLB has been the subject of a number of analyst reports. Royal Bank of Canada upped their price objective 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. Bank of America reduced their price objective on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Citigroup dropped their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research report on Friday, June 28th. Benchmark reissued a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a report on Tuesday, June 25th. Finally, Susquehanna reiterated a “positive” rating and issued a $77.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.59.

Schlumberger Price Performance

Shares of Schlumberger stock traded up $0.62 during trading on Thursday, hitting $47.31. 6,655,483 shares of the company were exchanged, compared to its average volume of 12,155,903. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12. The stock has a market capitalization of $67.62 billion, a price-to-earnings ratio of 15.72, a P/E/G ratio of 0.90 and a beta of 1.55. The firm has a 50 day moving average price of $46.54 and a 200 day moving average price of $49.51. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. The company 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 firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. On average, equities analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

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

Insider Buying and Selling at Schlumberger

In related news, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction dated 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 directly owns 33,421 shares in the company, valued at $1,612,897.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Bejar Carmen Rando sold 4,980 shares of the business’s stock in a transaction on Friday, June 7th. The shares were 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 directly owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Demosthenis Pafitis sold 63,095 shares of the 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 completion of the transaction, the chief technology officer now directly owns 33,421 shares in the company, valued at $1,612,897.46. The disclosure for this sale can be found here. In the last three months, insiders sold 106,158 shares of company stock worth $5,099,893. Insiders own 0.26% of the company’s stock.

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.