Raymond James & Associates Trims Stock Position in Schlumberger Limited (NYSE:SLB)

Raymond James & Associates reduced its position in shares of Schlumberger Limited (NYSE:SLB) by 40.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 872,029 shares of the oil and gas company’s stock after selling 598,466 shares during the period. Raymond James & Associates owned approximately 0.06% of Schlumberger worth $47,796,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SLB. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Schlumberger by 33.4% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 125,099 shares of the oil and gas company’s stock worth $7,293,000 after purchasing an additional 31,303 shares in the last quarter. Dakota Wealth Management lifted its holdings in shares of Schlumberger by 10.7% during the 3rd quarter. Dakota Wealth Management now owns 8,270 shares of the oil and gas company’s stock worth $482,000 after acquiring an additional 801 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Schlumberger by 24.9% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 337,251 shares of the oil and gas company’s stock valued at $19,662,000 after acquiring an additional 67,243 shares during the last quarter. Stratos Wealth Partners LTD. raised its position in Schlumberger by 28.9% during the third quarter. Stratos Wealth Partners LTD. now owns 19,680 shares of the oil and gas company’s stock valued at $1,147,000 after purchasing an additional 4,417 shares in the last quarter. Finally, Stratos Wealth Advisors LLC lifted its stake in Schlumberger by 3.8% during the third quarter. Stratos Wealth Advisors LLC now owns 12,870 shares of the oil and gas company’s stock worth $750,000 after purchasing an additional 468 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the sale, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 0.2 %

Shares of SLB traded up $0.08 during trading hours on Friday, reaching $47.66. 11,007,407 shares of the company traded hands, compared to its average volume of 9,961,223. Schlumberger Limited has a 12 month low of $42.73 and a 12 month high of $62.12. The company has a market capitalization of $68.12 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 0.92 and a beta of 1.64. The company’s fifty day moving average price is $51.63 and its two-hundred day moving average price is $51.79. 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:SLB) last posted its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share 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 the consensus estimate of $8.70 billion. During the same quarter in the prior year, the business earned $0.63 EPS. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. Equities research analysts predict that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Wednesday, June 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is 36.54%.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of research reports. BMO Capital Markets decreased their price objective on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Royal Bank of Canada boosted their price objective on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $64.00 target price on shares of Schlumberger in a report on Monday, April 22nd. TD Cowen lowered their price target on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $68.72.

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.