BP PLC increased its position in shares of Schlumberger Limited. (NYSE:SLB) by 25.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 179,000 shares of the oil and gas company’s stock after purchasing an additional 36,000 shares during the period. BP PLC’s holdings in Schlumberger were worth $7,801,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Washington Trust Bank boosted its position in Schlumberger by 4.3% in the 1st quarter. Washington Trust Bank now owns 5,719 shares of the oil and gas company’s stock valued at $249,000 after buying an additional 237 shares during the period. Lenox Wealth Management Inc. boosted its position in Schlumberger by 41.1% in the 1st quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock valued at $38,000 after buying an additional 256 shares during the period. Monarch Capital Management Inc. boosted its position in Schlumberger by 1.3% in the 1st quarter. Monarch Capital Management Inc. now owns 21,414 shares of the oil and gas company’s stock valued at $933,000 after buying an additional 285 shares during the period. Cetera Advisor Networks LLC boosted its position in Schlumberger by 2.7% in the 1st quarter. Cetera Advisor Networks LLC now owns 10,746 shares of the oil and gas company’s stock valued at $471,000 after buying an additional 286 shares during the period. Finally, Security National Trust Co. raised its holdings in shares of Schlumberger by 3.8% in the 1st quarter. Security National Trust Co. now owns 8,300 shares of the oil and gas company’s stock valued at $362,000 after purchasing an additional 300 shares in the last quarter. Hedge funds and other institutional investors own 77.15% of the company’s stock.
Shares of SLB stock traded up $0.63 during trading hours on Friday, hitting $39.74. The company’s stock had a trading volume of 9,742,582 shares, compared to its average volume of 10,767,189. The stock has a 50 day simple moving average of $37.33. The stock has a market cap of $55.04 billion, a PE ratio of 24.53, a PEG ratio of 2.55 and a beta of 1.39. The company has a debt-to-equity ratio of 0.45, a quick ratio of 0.99 and a current ratio of 1.35. Schlumberger Limited. has a 12-month low of $34.46 and a 12-month high of $69.61.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.03%. The ex-dividend date of this dividend is Tuesday, June 4th. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.
Several equities research analysts have recently commented on the stock. Jefferies Financial Group lowered shares of Schlumberger from a “buy” rating to a “hold” rating and reduced their price target for the company from $50.00 to $45.00 in a report on Friday, March 15th. Stifel Nicolaus upgraded shares of Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a report on Friday, June 7th. Tudor Pickering lowered shares of Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 price objective for the company. in a research note on Monday, April 22nd. Royal Bank of Canada reduced their price objective on shares of Schlumberger to $51.00 and set an “outperform” rating for the company in a research note on Wednesday, May 15th. Finally, Goldman Sachs Group started coverage on shares of Schlumberger in a research note on Sunday, March 10th. They set a “buy” rating and a $55.00 price objective for the company. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $55.68.
In other Schlumberger news, CFO Simon Ayat sold 25,000 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $46.10, for a total transaction of $1,152,500.00. Following the transaction, the chief financial officer now directly owns 255,971 shares of the company’s stock, valued at $11,800,263.10. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Alexander C. Juden sold 8,643 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $43.29, for a total transaction of $374,155.47. Following the transaction, the insider now directly owns 70,260 shares in the company, valued at $3,041,555.40. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.
Schlumberger Company Profile
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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