Greenleaf Trust Buys 6,924 Shares of Schlumberger Limited (NYSE:SLB)

Greenleaf Trust grew its stake in shares of Schlumberger Limited (NYSE:SLB) by 20.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 40,571 shares of the oil and gas company’s stock after acquiring an additional 6,924 shares during the quarter. Greenleaf Trust’s holdings in Schlumberger were worth $2,111,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the stock. Acadian Asset Management LLC purchased a new stake in shares of Schlumberger in the 1st quarter worth $25,000. Cetera Investment Advisers lifted its holdings in Schlumberger by 35.3% during the first quarter. Cetera Investment Advisers now owns 39,287 shares of the oil and gas company’s stock valued at $1,623,000 after purchasing an additional 10,240 shares in the last quarter. Dakota Wealth Management bought a new position in shares of Schlumberger in the first quarter worth approximately $232,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Schlumberger in the first quarter worth $419,000. Finally, Baird Financial Group Inc. raised its position in shares of Schlumberger by 2.9% during the 1st quarter. Baird Financial Group Inc. now owns 112,003 shares of the oil and gas company’s stock valued at $4,627,000 after purchasing an additional 3,209 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the transaction, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 249,182 shares in the company, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. In the last quarter, insiders sold 172,191 shares of company stock valued at $8,636,322. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

SLB has been the subject of a number of analyst reports. Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Wednesday, April 3rd. Susquehanna reissued a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research note on Monday, April 8th. The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Stifel Nicolaus increased their price objective on shares of Schlumberger from $63.00 to $64.00 and gave the company a “buy” rating in a report on Monday, January 22nd. Finally, Barclays decreased their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $70.31.

Schlumberger Trading Down 2.2 %

Shares of NYSE:SLB traded down $1.10 on Friday, hitting $49.84. 16,839,639 shares of the company’s stock were exchanged, compared to its average volume of 8,854,654. The business’s 50 day simple moving average is $51.62 and its two-hundred day simple moving average is $52.43. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.00. The stock has a market capitalization of $71.14 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 0.97 and a beta of 1.60. Schlumberger Limited has a 12 month low of $42.73 and a 12 month high of $62.12.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.75. The company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. During the same period in the previous year, the company earned $0.63 EPS. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. Analysts anticipate that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared 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 represents a $1.10 annualized dividend and a dividend yield of 2.21%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is currently 37.67%.

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.