Royal Fund Management LLC Has $1.61 Million Position in Schlumberger Limited (NYSE:SLB)

Royal Fund Management LLC raised its position in shares of Schlumberger Limited (NYSE:SLB) by 100.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 31,015 shares of the oil and gas company’s stock after purchasing an additional 15,523 shares during the quarter. Royal Fund Management LLC’s holdings in Schlumberger were worth $1,614,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in SLB. Vanguard Group Inc. increased its stake in shares of Schlumberger by 1.1% in the third quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock worth $7,609,804,000 after acquiring an additional 1,412,821 shares during the last quarter. FMR LLC increased its stake in shares of Schlumberger by 1.1% in the third quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock worth $1,584,099,000 after acquiring an additional 282,709 shares during the last quarter. Morgan Stanley increased its stake in shares of Schlumberger by 1.9% in the third quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock worth $920,561,000 after acquiring an additional 292,817 shares during the last quarter. Invesco Ltd. increased its stake in shares of Schlumberger by 30.5% in the third quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock worth $488,020,000 after acquiring an additional 1,954,620 shares during the last quarter. Finally, Sanders Capital LLC increased its stake in shares of Schlumberger by 34.9% in the third quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock worth $469,693,000 after acquiring an additional 2,085,506 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research reports. Royal Bank of Canada upped their price target on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research note on Wednesday, April 3rd. Stifel Nicolaus reissued a “buy” rating and set a $64.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Benchmark reissued a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Finally, Susquehanna reissued a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.72.

Schlumberger Stock Performance

Shares of NYSE SLB traded up $0.08 during mid-day trading on Friday, hitting $47.66. The company had a trading volume of 11,007,407 shares, compared to its average volume of 9,961,223. 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 business’s 50-day simple moving average is $51.63 and its 200-day simple moving average is $51.79. Schlumberger Limited has a 12 month low of $42.73 and a 12 month high of $62.12. The firm has a market cap of $68.12 billion, a P/E ratio of 15.83, a PEG ratio of 0.92 and a beta of 1.64.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. During the same quarter last year, the company earned $0.63 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. As a group, analysts predict that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Wednesday, June 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the transaction, the chief financial officer now owns 242,932 shares in the company, valued at $11,816,212.48. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Schlumberger Company 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.