Monarch Capital Management Inc. grew its position in Schlumberger Limited. (NYSE:SLB) by 1.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,414 shares of the oil and gas company’s stock after purchasing an additional 285 shares during the quarter. Monarch Capital Management Inc.’s holdings in Schlumberger were worth $933,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ellis Investment Partners LLC purchased a new stake in shares of Schlumberger during the first quarter valued at $26,000. CX Institutional grew its holdings 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 valued at $28,000 after buying an additional 396 shares during the last quarter. Berman Capital Advisors LLC purchased a new stake in shares of Schlumberger during the fourth quarter valued at $31,000. Bruderman Asset Management LLC purchased a new stake in shares of Schlumberger during the fourth quarter valued at $33,000. Finally, Sontag Advisory LLC purchased a new stake in shares of Schlumberger during the fourth quarter valued at $36,000. 79.29% of the stock is currently owned by institutional investors and hedge funds.
In related news, insider Alexander C. Juden sold 8,643 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Simon Ayat sold 25,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 255,971 shares of the company’s stock, valued at approximately $11,800,263.10. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by corporate insiders.
SLB has been the topic of several recent research reports. Zacks Investment Research raised shares of Schlumberger from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 6th. Raymond James reaffirmed a “hold” rating on shares of Schlumberger in a report on Tuesday, April 2nd. Royal Bank of Canada lowered their price target on shares of Schlumberger to $51.00 and set an “outperform” rating on the stock in a report on Wednesday, May 15th. BMO Capital Markets set a $44.00 price objective on shares of Schlumberger and gave the stock a “hold” rating in a research report on Monday, April 22nd. Finally, Stifel Nicolaus set a $50.00 price target on shares of Schlumberger and gave the stock a “hold” rating in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $57.16.
Shares of NYSE SLB opened at $39.02 on Monday. Schlumberger Limited. has a 12-month low of $34.99 and a 12-month high of $75.25. The stock has a market cap of $54.05 billion, a P/E ratio of 24.09, a price-to-earnings-growth ratio of 1.62 and a beta of 1.31. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.35 and a quick ratio of 0.99.
Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Thursday, April 18th. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. Schlumberger had a net margin of 6.19% and a return on equity of 5.87%. The company had revenue of $7.88 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter in the prior year, the company earned $0.38 EPS. Schlumberger’s revenue was up .6% compared to the same quarter last year. As a group, equities analysts forecast that Schlumberger Limited. will post 1.57 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 4th. This represents a $2.00 annualized dividend and a yield of 5.13%. Schlumberger’s dividend payout ratio is presently 123.46%.
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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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