Headlands Technologies LLC Acquires Shares of 6,346 Schlumberger Limited (NYSE:SLB)

Headlands Technologies LLC acquired a new stake in shares of Schlumberger Limited (NYSE:SLB) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,346 shares of the oil and gas company’s stock, valued at approximately $330,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Stonegate Investment Group LLC increased its position in Schlumberger by 1.7% during the 3rd quarter. Stonegate Investment Group LLC now owns 10,864 shares of the oil and gas company’s stock worth $633,000 after purchasing an additional 177 shares during the period. CI Investments Inc. grew its holdings in shares of Schlumberger by 4.9% in the 3rd quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock worth $241,000 after acquiring an additional 192 shares during the period. Montgomery Investment Management Inc. grew its holdings in shares of Schlumberger by 1.9% in the 3rd quarter. Montgomery Investment Management Inc. now owns 10,920 shares of the oil and gas company’s stock worth $637,000 after acquiring an additional 200 shares during the period. Allworth Financial LP grew its holdings in shares of Schlumberger by 3.8% in the 3rd quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock worth $324,000 after acquiring an additional 206 shares during the period. Finally, Atria Wealth Solutions Inc. grew its holdings in shares of Schlumberger by 0.6% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 34,414 shares of the oil and gas company’s stock worth $2,007,000 after acquiring an additional 206 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Trading Down 0.5 %

Shares of SLB opened at $49.20 on Friday. 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 firm has a market capitalization of $70.32 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. The stock’s fifty day simple moving average is $51.74 and its 200 day simple moving average is $52.13. Schlumberger Limited has a twelve month low of $42.73 and a twelve month high of $62.12.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the company posted $0.63 EPS. On average, equities research analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently announced 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 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Wednesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Stifel Nicolaus restated a “buy” rating and issued a $64.00 price target on shares of Schlumberger in a report on Monday, April 22nd. Bank of America lowered their target price on Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Benchmark reiterated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Royal Bank of Canada increased their target price on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.67.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the sale, the chief financial officer now owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 90,545 shares of company stock valued at $4,458,430. 0.26% of the stock is currently owned by company insiders.

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.