Simplicity Wealth LLC Takes Position in Schlumberger Limited (NYSE:SLB)

Simplicity Wealth LLC bought a new position in Schlumberger Limited (NYSE:SLB - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 35,136 shares of the oil and gas company's stock, valued at approximately $1,926,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Turtle Creek Wealth Advisors LLC bought a new position in Schlumberger in the 4th quarter worth approximately $26,000. Register Financial Advisors LLC bought a new position in Schlumberger in the 1st quarter worth approximately $27,000. Transcendent Capital Group LLC bought a new position in Schlumberger in the 4th quarter worth approximately $32,000. Janiczek Wealth Management LLC increased its position in Schlumberger by 1,180.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company's stock worth $34,000 after buying an additional 602 shares during the period. Finally, Rational Advisors LLC bought a new position in Schlumberger in the 1st quarter worth approximately $35,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction dated Tuesday, May 14th. The stock was 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 $1,612,897.46. The disclosure for this sale can be found here. Insiders sold 119,345 shares of company stock worth $5,774,965 over the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Trading Down 0.7 %

NYSE SLB traded down $0.36 on Monday, reaching $48.24. The company had a trading volume of 6,876,044 shares, compared to its average volume of 10,751,696. The stock's 50 day moving average is $51.38 and its 200-day moving average is $50.99. The stock has a market cap of $68.94 billion, a price-to-earnings ratio of 16.02, a PEG ratio of 0.93 and a beta of 1.64. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 52 week low of $42.73 and a 52 week high of $62.12.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting analysts' consensus estimates of $0.75. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm's revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.63 earnings per share. Equities analysts predict 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 issued a $0.275 dividend. This is an increase from Schlumberger's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger's dividend payout ratio is 36.54%.

Wall Street Analyst Weigh In

Several research analysts have commented on SLB shares. HSBC reaffirmed a "buy" rating and issued a $71.00 price target on shares of Schlumberger in a research report on Thursday, April 4th. Barclays lowered their price objective on Schlumberger from $74.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, April 4th. TD Cowen lowered their price target on Schlumberger from $64.00 to $63.00 and set a "buy" rating on the stock in a research report on Monday, April 22nd. Morgan Stanley reissued an "overweight" rating and issued a $65.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Finally, Bank of America reduced their price objective on Schlumberger from $63.00 to $62.00 and set a "buy" rating on the stock in a research note on Monday, April 22nd. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $68.72.

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.

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