Financial Management Professionals Inc. Buys 7,805 Shares of Schlumberger Limited (NYSE:SLB)

Financial Management Professionals Inc. boosted its stake in Schlumberger Limited (NYSE:SLB) by 139.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,384 shares of the oil and gas company’s stock after purchasing an additional 7,805 shares during the period. Financial Management Professionals Inc.’s holdings in Schlumberger were worth $734,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in Schlumberger by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock valued at $6,883,928,000 after purchasing an additional 1,753,108 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Schlumberger by 12.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock valued at $3,922,768,000 after acquiring an additional 8,617,971 shares during the last quarter. Capital World Investors raised its stake in shares of Schlumberger by 2.2% during the fourth quarter. Capital World Investors now owns 51,617,471 shares of the oil and gas company’s stock valued at $2,686,173,000 after acquiring an additional 1,133,686 shares during the last quarter. Norges Bank bought a new position in shares of Schlumberger during the fourth quarter valued at $1,000,292,000. Finally, Morgan Stanley raised its stake in shares of Schlumberger by 1.9% during the third quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock valued at $920,561,000 after acquiring an additional 292,817 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 0.4 %

NYSE:SLB opened at $47.18 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 stock has a market capitalization of $67.44 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 0.90 and a beta of 1.57. The firm has a fifty day simple moving average of $46.69 and a two-hundred day simple moving average of $49.60. Schlumberger Limited has a 12 month low of $42.61 and a 12 month high of $62.12.

Schlumberger (NYSE:SLB) last posted its quarterly 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. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. 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 earnings per share. Analysts expect that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed 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 is a boost from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.33%. The ex-dividend date is Wednesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Insider Activity

In other news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the completion of the transaction, the chief technology officer now directly owns 33,421 shares in the company, valued at $1,612,897.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CTO Demosthenis Pafitis sold 63,095 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The shares were 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 of the company’s stock, valued at $1,612,897.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gavin Rennick sold 38,083 shares of the firm’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the transaction, the insider now directly owns 45,851 shares in the company, valued at $2,213,686.28. The disclosure for this sale can be found here. Insiders sold 106,158 shares of company stock worth $5,099,893 over the last three months. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SLB shares. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Barclays dropped their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Bank of America dropped their price target on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. BMO Capital Markets dropped their price target on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. Finally, Royal Bank of Canada increased their price objective 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 issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $68.59.

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.