Hodges Capital Management Inc. Sells 5,593 Shares of Schlumberger Limited (NYSE:SLB)

Hodges Capital Management Inc. trimmed its position in Schlumberger Limited (NYSE:SLBFree Report) by 21.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 20,190 shares of the oil and gas company’s stock after selling 5,593 shares during the period. Hodges Capital Management Inc.’s holdings in Schlumberger were worth $1,107,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of Schlumberger in the 4th quarter valued at $26,000. Register Financial Advisors LLC bought a new position in shares of Schlumberger in the 1st quarter valued at $27,000. Transcendent Capital Group LLC bought a new position in shares of Schlumberger in the 4th quarter valued at $32,000. Janiczek Wealth Management LLC increased its holdings in Schlumberger by 1,180.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 602 shares during the period. Finally, Pinnacle Bancorp Inc. increased its holdings in Schlumberger by 64.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 292 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Insider Activity at Schlumberger

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 value of $3,044,964.70. Following the transaction, the chief technology officer now owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 value of $3,044,964.70. Following the transaction, the chief technology officer now owns 33,421 shares of the company’s stock, valued at approximately $1,612,897.46. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the transaction, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 106,158 shares of company stock valued at $5,099,893. 0.26% of the stock is owned by corporate insiders.

Schlumberger Price Performance

SLB stock opened at $47.18 on Friday. The stock has a market capitalization of $67.44 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 0.91 and a beta of 1.57. The company’s 50-day moving average is $46.69 and its 200-day moving average is $49.61. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. Schlumberger Limited has a 1 year low of $42.61 and a 1 year high of $62.12.

Schlumberger (NYSE:SLBGet Free Report) last released its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The company had revenue of $8.71 billion for 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 revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 EPS. Equities research analysts expect that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be given a $0.275 dividend. This is a boost 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 2.33%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Citigroup decreased their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a report on Friday. Royal Bank of Canada increased their price objective on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. TD Cowen decreased their price objective on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a report on Monday, April 22nd. BMO Capital Markets decreased their price objective on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Finally, StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $68.59.

Check Out Our Latest Report on SLB

Schlumberger Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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