Richelieu Gestion SA Decreases Stock Holdings in Schlumberger Limited (NYSE:SLB)

Richelieu Gestion SA reduced its holdings in shares of Schlumberger Limited (NYSE:SLB) by 45.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,361 shares of the oil and gas company’s stock after selling 3,684 shares during the quarter. Richelieu Gestion SA’s holdings in Schlumberger were worth $239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. First Financial Corp IN raised its holdings in shares of Schlumberger by 14.2% during the first quarter. First Financial Corp IN now owns 3,105 shares of the oil and gas company’s stock worth $170,000 after purchasing an additional 387 shares during the period. Community Bank of Raymore bought a new position in shares of Schlumberger during the first quarter worth about $243,000. Strategic Planning Group LLC grew its position in Schlumberger by 20.1% in the 1st quarter. Strategic Planning Group LLC now owns 11,481 shares of the oil and gas company’s stock valued at $629,000 after buying an additional 1,921 shares in the last quarter. Pacifica Partners Inc. grew its position in Schlumberger by 30.8% in the 1st quarter. Pacifica Partners Inc. now owns 94,071 shares of the oil and gas company’s stock valued at $5,104,000 after buying an additional 22,150 shares in the last quarter. Finally, Financial Synergies Wealth Advisors Inc. boosted its position in shares of Schlumberger by 21,142.9% during the 1st quarter. Financial Synergies Wealth Advisors Inc. now owns 2,974 shares of the oil and gas company’s stock valued at $163,000 after purchasing an additional 2,960 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Trading Down 2.4 %

SLB stock traded down $1.12 during trading on Wednesday, hitting $46.40. The company had a trading volume of 7,718,042 shares, compared to its average volume of 11,351,104. The business has a 50-day moving average of $46.92 and a 200-day moving average of $49.66. Schlumberger Limited has a one year low of $42.61 and a one year high of $62.12. The stock has a market cap of $66.32 billion, a PE ratio of 15.66, a PEG ratio of 0.91 and a beta of 1.57. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (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 firm 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 business earned $0.63 EPS. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. Research analysts predict that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be given a $0.275 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date is Wednesday, June 5th. Schlumberger’s dividend payout ratio is presently 36.54%.

Wall Street Analyst Weigh In

SLB has been the subject of several research reports. Susquehanna restated a “positive” rating and set a $77.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Tuesday. Morgan Stanley reissued an “overweight” rating and issued a $65.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. HSBC reaffirmed a “buy” rating and set a $71.00 target price on shares of Schlumberger in a research report on Thursday, April 4th. Finally, StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $69.06.

Insider Activity at Schlumberger

In related news, 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 value of $1,838,647.24. Following the completion of the sale, the insider now directly owns 45,851 shares of the company’s stock, valued at approximately $2,213,686.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other 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 transaction of $1,838,647.24. Following the completion of the sale, the insider now directly owns 45,851 shares of the company’s stock, valued at approximately $2,213,686.28. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Demosthenis Pafitis sold 63,095 shares of the firm’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 $1,612,897.46. The disclosure for this sale can be found here. In the last three months, insiders sold 106,158 shares of company stock valued at $5,099,893. 0.26% of the stock is owned by insiders.

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.