Schlumberger Limited (NYSE:SLB) Stock Position Lessened by Benjamin Edwards Inc.

Benjamin Edwards Inc. reduced its stake in shares of Schlumberger Limited (NYSE:SLB) by 14.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,463 shares of the oil and gas company’s stock after selling 1,119 shares during the quarter. Benjamin Edwards Inc.’s holdings in Schlumberger were worth $336,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of SLB. LGT Group Foundation raised its holdings in shares of Schlumberger by 14.5% in the 4th quarter. LGT Group Foundation now owns 156,891 shares of the oil and gas company’s stock worth $8,196,000 after purchasing an additional 19,836 shares in the last quarter. First Trust Direct Indexing L.P. grew its position in Schlumberger by 6.9% during the fourth quarter. First Trust Direct Indexing L.P. now owns 44,760 shares of the oil and gas company’s stock valued at $2,329,000 after purchasing an additional 2,905 shares in the last quarter. Summit Financial LLC boosted its position in Schlumberger by 4.5% during the fourth quarter. Summit Financial LLC now owns 9,650 shares of the oil and gas company’s stock valued at $505,000 after purchasing an additional 419 shares during the last quarter. Great Valley Advisor Group Inc. increased its holdings in Schlumberger by 180.2% in the fourth quarter. Great Valley Advisor Group Inc. now owns 14,916 shares of the oil and gas company’s stock worth $776,000 after buying an additional 9,593 shares during the last quarter. Finally, Hartford Funds Management Co LLC acquired a new position in Schlumberger during the fourth quarter worth $223,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on SLB. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Morgan Stanley reiterated an “overweight” rating and set a $65.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Bank of America decreased their price target on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $64.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Finally, Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $68.72.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 50,000 shares of the company’s 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 in the company, valued at $12,688,319.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the sale, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Schlumberger Price Performance

SLB stock traded up $0.08 during trading on Friday, hitting $47.66. 11,007,407 shares of the stock traded hands, compared to its average volume of 9,961,223. 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 stock has a market cap of $68.12 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 0.92 and a beta of 1.64. Schlumberger Limited has a one year low of $42.73 and a one year high of $62.12. The company has a 50 day simple moving average of $51.66 and a 200 day simple moving average of $51.87.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same period in the prior year, the company earned $0.63 EPS. Schlumberger’s revenue for the quarter was up 12.6% on a year-over-year basis. Equities analysts expect 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. Investors of record on Wednesday, June 5th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.31%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s payout ratio is currently 36.54%.

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.