Brookstone Capital Management Invests $1.76 Million in Schlumberger Limited (NYSE:SLB)

Brookstone Capital Management bought a new stake in Schlumberger Limited (NYSE:SLB) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 32,071 shares of the oil and gas company’s stock, valued at approximately $1,758,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Schlumberger during the 4th quarter worth $1,000,292,000. Price T Rowe Associates Inc. MD lifted its stake in shares of Schlumberger by 12.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock valued at $3,922,768,000 after purchasing an additional 8,617,971 shares in the last quarter. Winslow Capital Management LLC grew its holdings in shares of Schlumberger by 123,063.5% during the 4th quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock worth $226,253,000 after purchasing an additional 4,344,141 shares during the period. Royal Bank of Canada increased its position in Schlumberger by 79.7% during the 3rd quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock worth $286,835,000 after purchasing an additional 2,182,706 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Schlumberger by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock valued at $6,883,928,000 after buying an additional 1,753,108 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $47.18 on Friday. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $67.44 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 0.90 and a beta of 1.57. Schlumberger Limited has a twelve month low of $42.61 and a twelve month high of $62.12. The business has a 50 day simple moving average of $46.69 and a 200-day simple moving average of $49.60.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. During the same period in the prior year, the company earned $0.63 earnings per share. The firm’s revenue was up 12.6% compared to the same quarter last year. As a group, equities research analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a $0.275 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s payout ratio is presently 36.54%.

Analysts Set New Price Targets

Several research firms have recently issued reports on SLB. Susquehanna reissued a “positive” rating and issued a $77.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. TD Cowen lowered their price target on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Wells Fargo & Company cut Schlumberger from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $68.00 to $53.00 in a research note on Monday, April 29th. Stifel Nicolaus reiterated a “buy” rating and set a $64.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Finally, Citigroup decreased their price target on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a report on Friday. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.59.

Insider Activity

In related news, insider Gavin Rennick sold 38,083 shares of the business’s 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 owns 45,851 shares in the company, 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 Schlumberger news, insider Gavin Rennick sold 38,083 shares of the firm’s 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 sale, the insider now directly owns 45,851 shares in the company, valued at $2,213,686.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the transaction, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,158 shares of company stock valued at $5,099,893. 0.26% of the stock is currently owned by insiders.

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.