Tandem Capital Management Corp ADV lifted its stake in shares of Schlumberger Limited (NYSE:SLB) by 192.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 55,336 shares of the oil and gas company’s stock after purchasing an additional 36,411 shares during the quarter. Tandem Capital Management Corp ADV’s holdings in Schlumberger were worth $1,505,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently made changes to their positions in the company. BlackRock Inc. grew its holdings in Schlumberger by 12.8% in the 1st quarter. BlackRock Inc. now owns 109,407,465 shares of the oil and gas company’s stock worth $2,974,790,000 after buying an additional 12,398,419 shares in the last quarter. Norges Bank bought a new position in Schlumberger in the 4th quarter worth approximately $239,588,000. Artisan Partners Limited Partnership boosted its stake in Schlumberger by 23.7% during the 4th quarter. Artisan Partners Limited Partnership now owns 30,846,900 shares of the oil and gas company’s stock valued at $673,388,000 after purchasing an additional 5,918,699 shares in the last quarter. Boston Partners boosted its stake in Schlumberger by 26.1% during the 1st quarter. Boston Partners now owns 23,701,536 shares of the oil and gas company’s stock valued at $644,195,000 after purchasing an additional 4,901,533 shares in the last quarter. Finally, Discerene Group LP bought a new position in Schlumberger during the 4th quarter valued at $65,111,000. Institutional investors and hedge funds own 75.22% of the company’s stock.
Shares of SLB traded up $0.08 during mid-day trading on Friday, reaching $35.02. The company’s stock had a trading volume of 198,912 shares, compared to its average volume of 14,049,019. The company has a fifty day moving average price of $30.09. The company has a market cap of $48.97 billion, a P/E ratio of -17.12 and a beta of 2.40. Schlumberger Limited has a 1 year low of $13.70 and a 1 year high of $36.87. The company has a debt-to-equity ratio of 1.22, a quick ratio of 0.96 and a current ratio of 1.30.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 8th. Stockholders of record on Wednesday, June 2nd will be issued a $0.125 dividend. The ex-dividend date is Tuesday, June 1st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.43%. Schlumberger’s payout ratio is currently 73.53%.
In related news, EVP Hinda Gharbi sold 30,000 shares of the stock in a transaction on Thursday, May 6th. The stock was sold at an average price of $30.10, for a total transaction of $903,000.00. Following the completion of the sale, the executive vice president now directly owns 129,262 shares in the company, valued at $3,890,786.20. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.
A number of equities analysts have issued reports on SLB shares. Citigroup increased their price target on Schlumberger from $34.00 to $35.00 in a research note on Monday, April 26th. Stephens raised Schlumberger from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $27.00 to $35.00 in a research note on Monday, April 26th. Morgan Stanley increased their price target on Schlumberger from $30.00 to $32.00 and gave the company an “overweight” rating in a research note on Monday, April 26th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell increased their price target on Schlumberger from $34.00 to $35.00 and gave the company a “buy” rating in a research note on Monday, April 26th. Finally, The Goldman Sachs Group started coverage on Schlumberger in a research note on Thursday, May 13th. They set a “buy” rating and a $38.00 price target for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $28.19.
Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. It operates in four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company 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; and petro technical data services and training solutions.
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