Schlumberger Limited. (SLB) Position Lifted by Perennial Advisors LLC

Perennial Advisors LLC boosted its holdings in Schlumberger Limited. (NYSE:SLB) by 555.1% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,536 shares of the oil and gas company’s stock after acquiring an additional 7,233 shares during the period. Perennial Advisors LLC’s holdings in Schlumberger were worth $372,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. MUFG Securities EMEA plc raised its position in Schlumberger by 144.0% in the fourth quarter. MUFG Securities EMEA plc now owns 237,926 shares of the oil and gas company’s stock valued at $8,584,000 after purchasing an additional 140,403 shares during the period. Lee Danner & Bass Inc. raised its position in Schlumberger by 11.4% in the fourth quarter. Lee Danner & Bass Inc. now owns 128,987 shares of the oil and gas company’s stock valued at $4,654,000 after purchasing an additional 13,203 shares during the period. Meyer Handelman Co. raised its position in Schlumberger by 3.5% in the fourth quarter. Meyer Handelman Co. now owns 216,869 shares of the oil and gas company’s stock valued at $7,825,000 after purchasing an additional 7,328 shares during the period. Washington Capital Management Inc. raised its position in Schlumberger by 11.3% in the fourth quarter. Washington Capital Management Inc. now owns 28,700 shares of the oil and gas company’s stock valued at $1,035,000 after purchasing an additional 2,910 shares during the period. Finally, Inlet Private Wealth LLC purchased a new stake in Schlumberger in the fourth quarter valued at approximately $496,000. Hedge funds and other institutional investors own 79.29% of the company’s stock.

In other news, CFO Simon Ayat sold 25,000 shares of the 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 completion of the sale, the chief financial officer now owns 255,971 shares in the company, valued at $11,800,263.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Alexander C. Juden sold 8,643 shares of the stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $43.29, for a total transaction of $374,155.47. Following 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. Corporate insiders own 0.48% of the company’s stock.

A number of analysts have recently weighed in on SLB shares. Royal Bank of Canada set a $58.00 price objective on Schlumberger and gave the stock a “buy” rating in a research report on Friday, January 18th. Raymond James reaffirmed a “hold” rating on shares of Schlumberger in a research report on Tuesday, April 2nd. Zacks Investment Research raised Schlumberger from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 6th. SunTrust Banks upped their price objective on Schlumberger to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Finally, Morgan Stanley set a $51.00 price objective on 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 assigned a hold rating and eleven have issued a buy rating to the company. Schlumberger has a consensus rating of “Hold” and an average price target of $57.16.

NYSE:SLB opened at $39.00 on Thursday. The firm has a market capitalization of $52.86 billion, a P/E ratio of 24.07, a price-to-earnings-growth ratio of 1.58 and a beta of 1.31. 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 $34.99 and a 12 month high of $75.43.

Schlumberger (NYSE:SLB) last posted its earnings results on Thursday, April 18th. The oil and gas company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $7.88 billion for the quarter, compared to analyst estimates of $7.82 billion. Schlumberger had a return on equity of 5.87% and a net margin of 6.19%. Schlumberger’s revenue for the quarter was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 earnings per share. Analysts predict that Schlumberger Limited. will post 1.57 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Wednesday, June 5th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 5.13%. The ex-dividend date is Tuesday, June 4th. Schlumberger’s dividend payout ratio (DPR) is presently 123.46%.

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About Schlumberger

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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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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