Richardson Financial Services Inc. Increases Position in Schlumberger Limited (NYSE:SLB)

Richardson Financial Services Inc. grew its stake in Schlumberger Limited (NYSE:SLB) by 42.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,854 shares of the oil and gas company’s stock after acquiring an additional 553 shares during the quarter. Richardson Financial Services Inc.’s holdings in Schlumberger were worth $102,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Carolinas Wealth Consulting LLC boosted its position in shares of Schlumberger by 53.5% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 683 shares in the last quarter. Highland Capital Management LLC boosted its position in shares of Schlumberger by 2,494.0% in the 4th quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock worth $5,278,000 after purchasing an additional 97,516 shares in the last quarter. Nordea Investment Management AB boosted its position in shares of Schlumberger by 36.4% in the 4th quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock worth $74,080,000 after purchasing an additional 380,185 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Schlumberger by 6.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock worth $31,726,000 after purchasing an additional 35,763 shares in the last quarter. Finally, Sapient Capital LLC acquired a new stake in shares of Schlumberger in the 4th quarter worth $1,389,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Schlumberger

In related news, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now owns 22,518 shares of the company’s stock, valued at $977,956.74. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the transaction, the insider now directly owns 22,518 shares in the company, valued at $977,956.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gavin Rennick sold 38,083 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The disclosure for this sale can be found here. Insiders sold 106,158 shares of company stock valued at $5,099,893 over the last quarter. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of recent analyst reports. Bank of America lowered their price objective on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Susquehanna lowered their price target on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday. Citigroup lowered their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Finally, Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research report on Tuesday, June 25th. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.18.

Schlumberger Price Performance

Shares of Schlumberger stock traded up $0.72 on Thursday, hitting $46.00. The company’s stock had a trading volume of 3,247,118 shares, compared to its average volume of 11,132,135. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. Schlumberger Limited has a 1 year low of $42.61 and a 1 year high of $62.12. The firm has a fifty day moving average price of $46.29 and a 200-day moving average price of $49.28. The company has a market capitalization of $65.75 billion, a price-to-earnings ratio of 15.04, a price-to-earnings-growth ratio of 0.89 and a beta of 1.55.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. During the same quarter in the previous year, the business earned $0.63 EPS. Schlumberger’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, sell-side analysts anticipate 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 issued a dividend of $0.275 per share. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.39%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio 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.