National Asset Management Inc. raised its position in Schlumberger Limited. (NYSE:SLB) by 24.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,686 shares of the oil and gas company’s stock after acquiring an additional 1,690 shares during the period. National Asset Management Inc.’s holdings in Schlumberger were worth $380,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently bought and sold shares of the company. CX Institutional increased its stake in shares of Schlumberger by 158.4% during the first quarter. CX Institutional now owns 646 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 396 shares in the last quarter. Old North State Trust LLC increased its stake in shares of Schlumberger by 100.2% during the first quarter. Old North State Trust LLC now owns 871 shares of the oil and gas company’s stock worth $37,000 after purchasing an additional 436 shares in the last quarter. Lenox Wealth Management Inc. increased its stake in shares of Schlumberger by 41.1% during the first quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock worth $38,000 after purchasing an additional 256 shares in the last quarter. Berman Capital Advisors LLC purchased a new stake in shares of Schlumberger during the fourth quarter worth about $31,000. Finally, Riverview Trust Co grew its stake in Schlumberger by 94.6% during the 1st quarter. Riverview Trust Co now owns 899 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 437 shares in the last quarter. Institutional investors and hedge funds own 77.15% of the company’s stock.
Shares of NYSE:SLB traded up $0.63 during trading hours on Friday, reaching $39.74. The stock had a trading volume of 9,742,600 shares, compared to its average volume of 10,299,118. Schlumberger Limited. has a 1 year low of $34.46 and a 1 year high of $69.61. The business’s 50 day moving average is $37.33. The company has a quick ratio of 0.99, a current ratio of 1.35 and a debt-to-equity ratio of 0.45. The stock has a market cap of $54.05 billion, a PE ratio of 24.53, a price-to-earnings-growth ratio of 2.54 and a beta of 1.39.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Wednesday, June 5th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.03%. The ex-dividend date is Tuesday, June 4th. Schlumberger’s dividend payout ratio (DPR) is 123.46%.
In other news, CFO Simon Ayat sold 25,000 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $46.10, for a total value of $1,152,500.00. Following the completion of the sale, the chief financial officer now owns 255,971 shares in the company, valued at approximately $11,800,263.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Alexander C. Juden sold 8,643 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $43.29, for a total transaction of $374,155.47. Following the completion of the sale, the insider now owns 70,260 shares of the company’s stock, valued at approximately $3,041,555.40. The disclosure for this sale can be found here. Company insiders own 0.48% of the company’s stock.
Several analysts recently issued reports on SLB shares. Raymond James reaffirmed a “hold” rating on shares of Schlumberger in a research note on Tuesday, April 2nd. Zacks Investment Research upgraded shares of Schlumberger from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 6th. Bank of America reiterated a “buy” rating and issued a $51.00 target price (down from $60.00) on shares of Schlumberger in a report on Tuesday. SunTrust Banks upped their price objective on shares of Schlumberger to $53.00 and gave the stock a “buy” rating in a report on Tuesday, April 23rd. Finally, Morgan Stanley set a $51.00 price objective on shares of Schlumberger and gave the stock a “hold” rating in a report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $55.68.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.
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