Birmingham Capital Management Co. Inc. AL Sells 1,400 Shares of Schlumberger Limited (NYSE:SLB)

Birmingham Capital Management Co. Inc. AL lessened its holdings in shares of Schlumberger Limited (NYSE:SLBFree Report) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 40,115 shares of the oil and gas company’s stock after selling 1,400 shares during the period. Birmingham Capital Management Co. Inc. AL’s holdings in Schlumberger were worth $2,088,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Turtle Creek Wealth Advisors LLC purchased a new position in Schlumberger during the fourth quarter valued at $26,000. Janiczek Wealth Management LLC boosted its stake in 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 worth $34,000 after purchasing an additional 602 shares in the last quarter. Pinnacle Bancorp Inc. boosted its stake in Schlumberger by 64.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 292 shares in the last quarter. American National Bank grew its position in Schlumberger by 745.5% during the 4th quarter. American National Bank now owns 744 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 656 shares during the last quarter. Finally, Legacy Bridge LLC increased its stake in Schlumberger by 39.4% during the 4th quarter. Legacy Bridge LLC now owns 853 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 241 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the firm’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the transaction, the chief technology officer now directly owns 33,421 shares in the company, valued at approximately $1,612,897.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now owns 22,518 shares of the company’s stock, valued at $977,956.74. The disclosure for this sale can be found here. Insiders have sold 106,158 shares of company stock valued at $5,099,893 over the last ninety days. 0.26% of the stock is owned by insiders.

Schlumberger Price Performance

SLB stock traded down $0.81 during mid-day trading on Friday, hitting $43.00. The company had a trading volume of 12,683,393 shares, compared to its average volume of 11,117,535. The company has a 50-day moving average price of $47.97 and a 200 day moving average price of $49.93. Schlumberger Limited has a 12-month low of $42.61 and a 12-month high of $62.12. The company has a market capitalization of $61.46 billion, a price-to-earnings ratio of 14.29, a P/E/G ratio of 0.86 and a beta of 1.57. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLBGet Free Report) last posted its 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 company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. During the same period in the previous year, the business earned $0.63 earnings per share. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, research analysts anticipate that Schlumberger Limited will post 3.51 earnings per share for the current 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 is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.56%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SLB. StockNews.com cut shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Wells Fargo & Company lowered Schlumberger from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $68.00 to $53.00 in a report on Monday, April 29th. Royal Bank of Canada upped their price target on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Finally, Stifel Nicolaus restated a “buy” rating and set a $64.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $69.06.

Read Our Latest Stock Analysis on Schlumberger

Schlumberger Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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