Van Cleef Asset Management Inc Acquires 832 Shares of Schlumberger Limited (NYSE:SLB)

Van Cleef Asset Management Inc raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 1.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 82,751 shares of the oil and gas company’s stock after purchasing an additional 832 shares during the period. Schlumberger makes up approximately 0.6% of Van Cleef Asset Management Inc’s portfolio, making the stock its 28th biggest holding. Van Cleef Asset Management Inc’s holdings in Schlumberger were worth $4,306,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Global Retirement Partners LLC grew its position in Schlumberger by 14.1% in the 3rd quarter. Global Retirement Partners LLC now owns 3,563 shares of the oil and gas company’s stock worth $199,000 after purchasing an additional 440 shares in the last quarter. DAVENPORT & Co LLC grew its position in shares of Schlumberger by 0.9% during the 3rd quarter. DAVENPORT & Co LLC now owns 54,995 shares of the oil and gas company’s stock valued at $3,206,000 after purchasing an additional 506 shares in the last quarter. GHP Investment Advisors Inc. increased its holdings in shares of Schlumberger by 68.8% in the third quarter. GHP Investment Advisors Inc. now owns 1,722 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 702 shares during the period. Exchange Traded Concepts LLC boosted its stake in Schlumberger by 3,008.8% during the third quarter. Exchange Traded Concepts LLC now owns 6,031 shares of the oil and gas company’s stock valued at $352,000 after buying an additional 5,837 shares during the period. Finally, Miller Howard Investments Inc. NY increased its stake in Schlumberger by 0.5% in the 3rd quarter. Miller Howard Investments Inc. NY now owns 32,845 shares of the oil and gas company’s stock worth $1,915,000 after acquiring an additional 176 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Schlumberger Trading Up 0.7 %

Schlumberger stock traded up $0.34 during trading hours on Thursday, reaching $49.45. The stock had a trading volume of 7,965,899 shares, compared to its average volume of 11,221,724. The company has a fifty day simple moving average of $51.71 and a 200-day simple moving average of $52.25. Schlumberger Limited has a 52 week low of $42.73 and a 52 week high of $62.12. The stock has a market cap of $70.58 billion, a PE ratio of 16.37, a PEG ratio of 0.96 and a beta of 1.60. 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 (NYSE:SLB) last posted its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 return on equity of 21.88% and a net margin of 12.72%. Schlumberger’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share. Analysts forecast that Schlumberger Limited will post 3.5 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date of this dividend is Wednesday, June 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is currently 36.54%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SLB. Stifel Nicolaus reissued a “buy” rating and set a $64.00 price objective on shares of Schlumberger in a report on Monday. TD Cowen cut their price target on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday. BMO Capital Markets dropped their price objective on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a report on Monday. Bank of America reduced their target price on Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday. Finally, Royal Bank of Canada upped their price objective on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.67.

Insider Buying and Selling

In other 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 value of $2,426,000.00. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the company’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 transaction, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. Insiders sold 90,545 shares of company stock valued at $4,458,430 over the last quarter. 0.26% of the stock is owned by company 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.