SeaCrest Wealth Management LLC Lowers Stock Position in Schlumberger Limited (NYSE:SLB)

SeaCrest Wealth Management LLC reduced its stake in shares of Schlumberger Limited (NYSE:SLB) by 10.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,035 shares of the oil and gas company’s stock after selling 1,702 shares during the period. SeaCrest Wealth Management LLC’s holdings in Schlumberger were worth $824,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Schlumberger in the 4th quarter worth approximately $1,000,292,000. Price T Rowe Associates Inc. MD lifted its holdings in 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 worth $3,922,768,000 after purchasing an additional 8,617,971 shares in the last quarter. Winslow Capital Management LLC lifted its holdings in Schlumberger by 123,063.5% in 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 in the last quarter. Royal Bank of Canada lifted its holdings in Schlumberger by 79.7% in 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. lifted its holdings in Schlumberger by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock worth $6,883,928,000 after purchasing an additional 1,753,108 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was 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 in the company, valued at approximately $1,612,897.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction 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 disclosure for this sale can be found here. Insiders have sold 106,158 shares of company stock valued at $5,099,893 in the last quarter. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research analyst reports. Wells Fargo & Company cut Schlumberger from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $68.00 to $53.00 in a report on Monday, April 29th. Citigroup reduced their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. TD Cowen reduced their price objective on Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $64.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Two investment 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 presently has a consensus rating of “Moderate Buy” and an average price target of $68.59.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $47.30 on Thursday. The stock’s fifty day moving average is $46.58 and its two-hundred day moving average is $49.53. The company has a market capitalization of $67.61 billion, a PE ratio of 15.71, a price-to-earnings-growth ratio of 0.90 and a beta of 1.55. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 52 week low of $42.61 and a 52 week high of $62.12.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. The company had revenue of $8.71 billion for 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%. Schlumberger’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 EPS. As a group, analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

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

About Schlumberger

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.