Schlumberger Limited. (SLB) Holdings Raised by Flippin Bruce & Porter Inc.

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Flippin Bruce & Porter Inc. boosted its position in Schlumberger Limited. (NYSE:SLB) by 8.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 183,874 shares of the oil and gas company’s stock after acquiring an additional 14,622 shares during the period. Flippin Bruce & Porter Inc.’s holdings in Schlumberger were worth $8,011,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Ellis Investment Partners LLC bought a new stake in shares of Schlumberger during the 1st quarter valued at about $26,000. CX Institutional boosted its stake in shares of Schlumberger by 158.4% during the 1st quarter. CX Institutional now owns 646 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 396 shares in the last quarter. Berman Capital Advisors LLC bought a new stake in shares of Schlumberger during the 4th quarter valued at about $31,000. Bruderman Asset Management LLC bought a new stake in shares of Schlumberger during the 4th quarter valued at about $33,000. Finally, Sontag Advisory LLC bought a new stake in shares of Schlumberger during the 4th quarter valued at about $36,000. 77.85% of the stock is currently owned by institutional investors and hedge funds.

In other news, CFO Simon Ayat sold 25,000 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $46.10, for a total value of $1,152,500.00. Following the sale, the chief financial officer now owns 255,971 shares of the company’s stock, valued at $11,800,263.10. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Alexander C. Juden sold 8,643 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $43.29, for a total transaction of $374,155.47. Following the completion of the sale, the insider now directly owns 70,260 shares in the company, valued at approximately $3,041,555.40. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.

SLB has been the subject of a number of research reports. Barclays dropped their target price on shares of Schlumberger from $52.00 to $49.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 9th. Tudor Pickering lowered shares of Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 target price for the company. in a research report on Monday, April 22nd. SunTrust Banks upped their target price on shares of Schlumberger to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Goldman Sachs Group initiated coverage on shares of Schlumberger in a research report on Sunday, March 10th. They set a “buy” rating and a $55.00 target price for the company. Finally, Jefferies Financial Group lowered shares of Schlumberger from a “buy” rating to a “hold” rating and dropped their target price for the stock from $50.00 to $45.00 in a research report on Friday, March 15th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and ten have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $55.78.

Schlumberger stock opened at $37.00 on Friday. The firm has a market cap of $51.25 billion, a P/E ratio of 22.84, a price-to-earnings-growth ratio of 1.64 and a beta of 1.31. The company has a current ratio of 1.35, a quick ratio of 0.99 and a debt-to-equity ratio of 0.45. Schlumberger Limited. has a 52-week low of $34.99 and a 52-week high of $70.47.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Thursday, April 18th. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.30. The company had revenue of $7.88 billion for the quarter, compared to the consensus estimate of $7.82 billion. Schlumberger had a net margin of 6.19% and a return on equity of 5.87%. Schlumberger’s revenue was up .6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.38 earnings per share. On average, equities research analysts predict that Schlumberger Limited. will post 1.57 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.41%. The ex-dividend date is Tuesday, June 4th. Schlumberger’s payout ratio is 123.46%.

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Schlumberger Company Profile

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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