Parkside Financial Bank & Trust Grows Stake in Schlumberger Limited (NYSE:SLB)

Parkside Financial Bank & Trust raised its stake in Schlumberger Limited (NYSE:SLB) by 11.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,582 shares of the oil and gas company’s stock after purchasing an additional 566 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Schlumberger were worth $290,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Highland Capital Management LLC grew its stake in shares of Schlumberger by 2,494.0% during the fourth quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock valued at $5,278,000 after acquiring an additional 97,516 shares in the last quarter. Guinness Asset Management LTD grew its stake in Schlumberger by 0.3% in the third quarter. Guinness Asset Management LTD now owns 331,309 shares of the oil and gas company’s stock worth $19,468,000 after purchasing an additional 965 shares in the last quarter. Nordea Investment Management AB grew its stake in Schlumberger by 36.4% in the fourth quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock worth $74,080,000 after purchasing an additional 380,185 shares in the last quarter. Allworth Financial LP grew its stake in Schlumberger by 3.8% in the third quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock worth $324,000 after purchasing an additional 206 shares in the last quarter. Finally, Asset Management One Co. Ltd. grew its stake in Schlumberger by 6.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock worth $31,726,000 after purchasing an additional 35,763 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Price Performance

NYSE:SLB traded down $0.80 during midday trading on Wednesday, hitting $48.75. 3,251,418 shares of the stock were exchanged, compared to its average volume of 11,170,224. Schlumberger Limited has a one year low of $42.73 and a one year high of $62.12. The company 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 business has a 50-day moving average price of $51.68 and a two-hundred day moving average price of $52.28. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 earnings per share. Sell-side analysts predict that Schlumberger Limited will post 3.5 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders 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. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.26%. Schlumberger’s payout ratio is 36.54%.

Insiders Place Their Bets

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now directly owns 242,932 shares in the company, valued at approximately $11,816,212.48. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP Kevin Fyfe sold 20,223 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $52.05, for a total transaction of $1,052,607.15. Following the transaction, the vice president now directly owns 31,198 shares in the company, valued at approximately $1,623,855.90. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now owns 242,932 shares in the company, valued at $11,816,212.48. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,768 shares of company stock worth $5,511,037. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Susquehanna reissued a “positive” rating and issued a $77.00 target price on shares of Schlumberger in a report on Monday. TD Cowen cut their target price on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Monday. Wells Fargo & Company raised their target price on shares of Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. HSBC reissued a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a report on Thursday, April 4th. Finally, Morgan Stanley reissued an “overweight” rating and issued a $65.00 target price on shares of Schlumberger in a report on Monday. One analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus price target of $69.67.

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.