AMF Tjanstepension AB Reduces Stake in Schlumberger Limited (NYSE:SLB)

AMF Tjanstepension AB decreased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 6.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 913,600 shares of the oil and gas company’s stock after selling 59,184 shares during the quarter. AMF Tjanstepension AB’s holdings in Schlumberger were worth $50,093,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. 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 stake in Schlumberger during the 1st quarter worth $27,000. Transcendent Capital Group LLC acquired a new position in Schlumberger in the fourth quarter valued at $32,000. Janiczek Wealth Management LLC grew 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 buying an additional 602 shares during the last quarter. Finally, Pinnacle Bancorp Inc. raised its stake in Schlumberger by 64.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 292 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on SLB shares. HSBC reaffirmed a “buy” rating and set a $71.00 price target on shares of Schlumberger in a report on Thursday, April 4th. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Susquehanna reiterated a “positive” rating and set a $77.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. Benchmark restated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research report on Tuesday. Finally, Royal Bank of Canada boosted their target price on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.59.

Insider Buying and Selling

In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction dated 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 transaction, the chief technology officer now directly owns 33,421 shares in the company, valued at approximately $1,612,897.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Schlumberger 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 sale, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gavin Rennick sold 38,083 shares of the stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total value of $1,838,647.24. Following the transaction, the insider now directly owns 45,851 shares in the company, valued at approximately $2,213,686.28. The disclosure for this sale can be found here. In the last quarter, insiders sold 106,158 shares of company stock worth $5,099,893. 0.26% of the stock is owned by corporate insiders.

Schlumberger Price Performance

SLB traded up $0.17 during midday trading on Friday, reaching $47.18. 12,686,524 shares of the company’s stock were exchanged, compared to its average volume of 11,397,319. The business’s 50-day moving average price is $46.69 and its 200 day moving average price is $49.60. The stock has a market capitalization of $67.44 billion, a PE ratio of 15.67, a P/E/G ratio of 0.89 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 company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. The firm had revenue of $8.71 billion during 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 company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.63 EPS. As a group, equities analysts anticipate that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.33%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio (DPR) is presently 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.