BTC Capital Management Inc. Buys 5,264 Shares of Schlumberger Limited (NYSE:SLB)

BTC Capital Management Inc. boosted its stake in Schlumberger Limited (NYSE:SLB) by 61.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,875 shares of the oil and gas company’s stock after purchasing an additional 5,264 shares during the period. BTC Capital Management Inc.’s holdings in Schlumberger were worth $580,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SLB. TCW Group Inc. boosted its stake in shares of Schlumberger by 1.3% during the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock worth $759,000 after acquiring an additional 259 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of Schlumberger by 0.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock worth $2,174,000 after acquiring an additional 262 shares during the last quarter. Vident Advisory LLC boosted its stake in shares of Schlumberger by 1.0% during the 4th quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company’s stock worth $1,067,000 after acquiring an additional 273 shares during the last quarter. Glen Eagle Advisors LLC boosted its stake in shares of Schlumberger by 3.7% during the 4th quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company’s stock worth $301,000 after acquiring an additional 282 shares during the last quarter. Finally, Cromwell Holdings LLC boosted its stake in shares of Schlumberger by 7.0% during the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock worth $167,000 after acquiring an additional 283 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Activity at Schlumberger

In other news, Director La Chevardiere Patrick De sold 5,000 shares of the business’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total value of $167,900.00. Following the sale, the director now directly owns 23,525 shares in the company, valued at $789,969.50. The trade was a 17.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Aparna Raman sold 25,133 shares of the business’s stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. This trade represents a 44.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Down 2.0%

Shares of SLB stock opened at $33.02 on Friday. The stock has a market cap of $44.91 billion, a P/E ratio of 10.62, a PEG ratio of 10.10 and a beta of 1.06. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $50.94. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The company’s fifty day simple moving average is $35.29 and its two-hundred day simple moving average is $38.98.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.64 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.75 EPS. Analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s dividend payout ratio (DPR) is presently 38.64%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on SLB shares. Jefferies Financial Group dropped their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, March 27th. Morgan Stanley dropped their price target on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, May 16th. Stifel Nicolaus dropped their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Barclays dropped their price target on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Finally, Susquehanna lowered their target price on shares of Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a research note on Monday, April 28th. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.44.

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.