WealthTrust Axiom LLC Cuts Stock Position in Schlumberger Limited (NYSE:SLB)

WealthTrust Axiom LLC decreased its stake in shares of Schlumberger Limited (NYSE:SLB) by 5.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,709 shares of the oil and gas company’s stock after selling 2,458 shares during the quarter. WealthTrust Axiom LLC’s holdings in Schlumberger were worth $2,379,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Exchange Traded Concepts LLC raised its holdings in Schlumberger by 3,008.8% in the third quarter. Exchange Traded Concepts LLC now owns 6,031 shares of the oil and gas company’s stock worth $352,000 after buying an additional 5,837 shares during the last quarter. PDS Planning Inc bought a new position in Schlumberger in the 3rd quarter valued at approximately $227,000. Sheets Smith Wealth Management boosted its stake in Schlumberger by 23.9% during the 3rd quarter. Sheets Smith Wealth Management now owns 9,847 shares of the oil and gas company’s stock valued at $574,000 after purchasing an additional 1,900 shares during the last quarter. Atlas Private Wealth Management increased its holdings in shares of Schlumberger by 6.3% in the 3rd quarter. Atlas Private Wealth Management now owns 18,068 shares of the oil and gas company’s stock worth $1,053,000 after purchasing an additional 1,076 shares in the last quarter. Finally, Accurate Wealth Management LLC purchased a new position in shares of Schlumberger in the third quarter worth $228,000. 81.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on SLB shares. Bank of America reduced their price objective on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Wells Fargo & Company cut shares of Schlumberger from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $68.00 to $53.00 in a report on Monday. HSBC restated a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a report on Thursday, April 4th. Morgan Stanley reissued an “overweight” rating and set a $65.00 price target on shares of Schlumberger in a report on Monday, April 22nd. Finally, Royal Bank of Canada lifted 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. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $68.72.

Schlumberger Stock Performance

Schlumberger stock traded down $1.44 during midday trading on Tuesday, hitting $47.77. The stock had a trading volume of 9,201,052 shares, compared to its average volume of 11,131,230. The company has a current ratio of 1.37, a quick ratio of 1.02 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. The company has a market capitalization of $68.28 billion, a PE ratio of 16.35, a P/E/G ratio of 0.95 and a beta of 1.60. The firm’s fifty day moving average is $51.75 and its two-hundred day moving average is $52.02.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the firm earned $0.63 EPS. On average, research analysts forecast that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The company 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 dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.30%. 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 currently 36.54%.

Insider Activity at Schlumberger

In other news, insider Gavin Rennick sold 20,045 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $48.77, for a total transaction of $977,594.65. Following the sale, the insider now directly owns 77,563 shares in the company, valued at approximately $3,782,747.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Abdellah Merad sold 50,000 shares of Schlumberger 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 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 through the SEC website. Also, insider Gavin Rennick sold 20,045 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $48.77, for a total value of $977,594.65. Following the transaction, the insider now directly owns 77,563 shares in the company, valued at approximately $3,782,747.51. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 76,295 shares of company stock valued at $3,707,595. 0.26% of the stock is owned by corporate insiders.

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.