Park Avenue Securities LLC Boosts Stock Holdings in Schlumberger Limited (NYSE:SLB)

Park Avenue Securities LLC boosted its stake in shares of Schlumberger Limited (NYSE:SLB) by 0.7% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 42,312 shares of the oil and gas company’s stock after acquiring an additional 310 shares during the period. Park Avenue Securities LLC’s holdings in Schlumberger were worth $2,319,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC bought a new position in Schlumberger during the fourth quarter valued at $26,000. Transcendent Capital Group LLC bought a new position in Schlumberger during the fourth quarter valued at $32,000. Janiczek Wealth Management LLC lifted its position in 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 valued at $34,000 after purchasing an additional 602 shares during the last quarter. American National Bank lifted its position in Schlumberger by 745.5% during the fourth quarter. American National Bank now owns 744 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 656 shares during the last quarter. Finally, Pinnacle Bancorp Inc. lifted its position in Schlumberger by 64.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 292 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Trading Up 0.4 %

NYSE SLB opened at $45.66 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The company has a market capitalization of $65.26 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 0.87 and a beta of 1.57. The company’s 50-day simple moving average is $47.08 and its two-hundred day simple moving average is $49.67. Schlumberger Limited has a one year low of $42.61 and a one year high of $62.12.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 EPS. Equities analysts forecast that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.41%. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the transaction, the insider now owns 45,851 shares of the company’s stock, valued at approximately $2,213,686.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other 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 transaction, the chief technology officer now owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gavin Rennick sold 38,083 shares of Schlumberger stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the completion of 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 have sold 106,158 shares of company stock valued at $5,099,893. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Morgan Stanley reiterated an “overweight” rating and set a $65.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. TD Cowen lowered their target price on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Finally, BMO Capital Markets lowered their target price on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $69.06.

Schlumberger Company 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.