First Trust Direct Indexing L.P. Grows Stock Holdings in Schlumberger Limited (NYSE:SLB)

First Trust Direct Indexing L.P. raised its stake in Schlumberger Limited (NYSE:SLB) by 1.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,401 shares of the oil and gas company’s stock after buying an additional 641 shares during the period. First Trust Direct Indexing L.P.’s holdings in Schlumberger were worth $2,488,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in SLB. Turtle Creek Wealth Advisors LLC purchased a new stake in Schlumberger in the 4th quarter valued at about $26,000. Register Financial Advisors LLC bought a new stake in shares of Schlumberger in the 1st quarter valued at about $27,000. Transcendent Capital Group LLC bought a new stake in shares of Schlumberger in the 4th quarter valued at about $32,000. Janiczek Wealth Management LLC raised its holdings in shares of Schlumberger by 1,180.4% in the 4th 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 in the last quarter. Finally, Pinnacle Bancorp Inc. raised its holdings in shares of Schlumberger by 64.3% in the 4th 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 in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Up 1.3 %

NYSE:SLB opened at $47.31 on Friday. The company has a market cap of $67.62 billion, a PE ratio of 15.72, a P/E/G ratio of 0.91 and a beta of 1.55. Schlumberger Limited has a twelve month low of $42.61 and a twelve month high of $62.12. 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’s 50 day moving average is $46.50 and its two-hundred day moving average is $49.50.

Schlumberger (NYSE:SLB) last released 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 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 business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.63 EPS. Analysts anticipate that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wells Fargo & Company lowered shares of Schlumberger from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $68.00 to $53.00 in a report on Monday, April 29th. StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. HSBC restated a “buy” rating and issued a $71.00 price target on shares of Schlumberger in a report on Thursday, April 4th. Finally, Morgan Stanley reiterated an “overweight” rating and set a $65.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Two analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $68.59.

Insider Activity

In other news, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction 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 sale, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CTO Demosthenis Pafitis sold 63,095 shares of the 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 sale, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Gavin Rennick sold 38,083 shares of the stock in a transaction 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 sale, the insider now directly owns 45,851 shares in the company, valued at $2,213,686.28. 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 ninety days. Insiders own 0.26% of the company’s stock.

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.