Schlumberger Limited (NYSE:SLB) Shares Bought by Parkside Financial Bank & Trust

Parkside Financial Bank & Trust raised its position in shares of Schlumberger Limited (NYSE:SLB) by 11.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,582 shares of the oil and gas company’s stock after acquiring an additional 566 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Schlumberger were worth $290,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BluePath Capital Management LLC acquired a new position in Schlumberger during the third quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Schlumberger in the fourth quarter valued at $26,000. MCF Advisors LLC raised its stake in Schlumberger by 1,355.9% in the third quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 461 shares in the last quarter. Janiczek Wealth Management LLC raised its stake in Schlumberger by 1,180.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 602 shares in the last quarter. Finally, Pinnacle Bancorp Inc. raised its stake in Schlumberger by 64.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 292 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of Schlumberger stock traded down $0.80 during trading on Wednesday, hitting $48.75. 3,251,418 shares of the company were exchanged, compared to its average volume of 11,170,224. 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 Limited has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The stock has a market capitalization of $69.59 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 0.95 and a beta of 1.60. The firm has a 50 day moving average price of $51.68 and a 200 day moving average price of $52.28.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data 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 net margin of 12.72% and a return on equity of 21.88%. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same quarter in the previous year, the business posted $0.63 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. On average, equities analysts expect that Schlumberger Limited will post 3.5 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.26%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is currently 36.54%.

Analysts Set New Price Targets

Several equities analysts have issued reports on SLB shares. Bank of America dropped their price objective on Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Monday. Susquehanna reissued a “positive” rating and set a $77.00 price target on shares of Schlumberger in a report on Monday. BMO Capital Markets lowered their price target on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a report on Monday. TD Cowen lowered their price target on Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Monday. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price objective on shares of Schlumberger in a report on Monday. One investment analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and a consensus target price of $69.67.

Insiders Place Their Bets

In other news, CFO Stephane Biguet sold 6,250 shares of the company’s 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 sale, the chief financial officer now owns 249,182 shares in the company, valued at approximately $13,151,825.96. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Schlumberger news, insider Katharina Beumelburg sold 8,000 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.62, for a total value of $420,960.00. Following the completion of the transaction, the insider now owns 15,581 shares in the company, valued at approximately $819,872.22. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. Insiders have sold 110,768 shares of company stock worth $5,511,037 in the last quarter. 0.26% of the stock is owned by corporate 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.