Community Bank of Raymore Buys New Position in Schlumberger Limited (NYSE:SLB)

Community Bank of Raymore acquired a new position in shares of Schlumberger Limited (NYSE:SLB) in the 1st quarter, Holdings Channel.com reports. The fund acquired 4,430 shares of the oil and gas company’s stock, valued at approximately $243,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of Schlumberger by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock worth $6,883,928,000 after purchasing an additional 1,753,108 shares during the period. Price T Rowe Associates Inc. MD increased its position in Schlumberger by 12.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock worth $3,922,768,000 after buying an additional 8,617,971 shares during the period. Capital World Investors boosted its stake in shares of Schlumberger by 2.2% in the fourth quarter. Capital World Investors now owns 51,617,471 shares of the oil and gas company’s stock valued at $2,686,173,000 after buying an additional 1,133,686 shares in the last quarter. Norges Bank acquired a new position in shares of Schlumberger in the fourth quarter worth $1,000,292,000. Finally, Morgan Stanley increased its stake in Schlumberger by 1.9% in the third quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock valued at $920,561,000 after purchasing an additional 292,817 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Price Performance

Shares of SLB stock traded down $0.39 during mid-day trading on Wednesday, hitting $47.13. The company had a trading volume of 1,818,506 shares, compared to its average volume of 11,302,747. Schlumberger Limited has a 52-week low of $42.61 and a 52-week high of $62.12. The stock’s 50 day moving average price is $46.92 and its 200-day moving average price is $49.66. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The company has a market capitalization of $67.36 billion, a P/E ratio of 15.65, a P/E/G ratio of 0.91 and a beta of 1.57.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. The company had revenue of $8.71 billion during 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%. Schlumberger’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period last year, the business earned $0.63 EPS. Equities research analysts forecast that Schlumberger Limited will post 3.51 earnings per share 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 paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 2.33%. Schlumberger’s dividend payout ratio is 36.54%.

Insiders Place Their Bets

In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of the stock in a transaction on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the transaction, the insider now owns 22,518 shares in the company, valued at $977,956.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Gavin Rennick sold 38,083 shares of the business’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the completion of the transaction, the insider now owns 45,851 shares in the company, valued at approximately $2,213,686.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now owns 22,518 shares of the company’s stock, valued at approximately $977,956.74. The disclosure for this sale can be found here. Insiders have sold 106,158 shares of company stock worth $5,099,893 over the last three months. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays cut their price objective on Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Susquehanna reaffirmed a “positive” rating and set a $77.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. Benchmark reissued a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research note on Tuesday. BMO Capital Markets cut 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, Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $69.06.

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.