Schlumberger Limited (NYSE:SLB) Shares Acquired by Olstein Capital Management L.P.

Olstein Capital Management L.P. increased its position in Schlumberger Limited (NYSE:SLB) by 10.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 149,000 shares of the oil and gas company’s stock after purchasing an additional 14,000 shares during the period. Olstein Capital Management L.P.’s holdings in Schlumberger were worth $8,167,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MBM Wealth Consultants LLC acquired a new position in Schlumberger in the first quarter worth $865,000. Synergy Asset Management LLC lifted its position in shares of Schlumberger by 1,328.0% in the 1st quarter. Synergy Asset Management LLC now owns 285,234 shares of the oil and gas company’s stock worth $15,634,000 after buying an additional 265,260 shares during the last quarter. Cullinan Associates Inc. boosted its holdings in shares of Schlumberger by 11.4% in the 1st quarter. Cullinan Associates Inc. now owns 30,200 shares of the oil and gas company’s stock valued at $1,655,000 after buying an additional 3,100 shares during the period. Hexagon Capital Partners LLC grew its position in shares of Schlumberger by 8.0% during the 1st quarter. Hexagon Capital Partners LLC now owns 4,433 shares of the oil and gas company’s stock valued at $243,000 after buying an additional 327 shares during the last quarter. Finally, Mirador Capital Partners LP bought a new position in Schlumberger in the first quarter worth about $200,000. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Schlumberger

In related news, insider Bejar Carmen Rando sold 4,980 shares of the 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 transaction, the insider now owns 22,518 shares in the company, valued at approximately $977,956.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, CTO Demosthenis Pafitis sold 63,095 shares of the 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 owns 33,421 shares in the company, valued at $1,612,897.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the transaction, the insider now owns 22,518 shares in the company, valued at approximately $977,956.74. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 106,158 shares of company stock valued at $5,099,893. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on SLB. BMO Capital Markets lowered their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. HSBC reaffirmed a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a research report on Thursday, April 4th. Barclays lowered their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Finally, Royal Bank of Canada upped their target price on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Two equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.59.

Schlumberger Price Performance

Shares of Schlumberger stock traded up $0.62 during trading on Wednesday, hitting $47.31. The stock had a trading volume of 6,655,483 shares, compared to its average volume of 11,320,893. The business has a fifty day moving average of $46.58 and a two-hundred day moving average of $49.53. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12. The firm has a market cap of $67.62 billion, a P/E ratio of 15.68, a PEG ratio of 0.91 and a beta of 1.55. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. The company had revenue of $8.71 billion during 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%. Schlumberger’s revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.63 EPS. On average, sell-side analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared 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 is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.33%. Schlumberger’s payout ratio is 36.54%.

Schlumberger Company 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.