New York Life Investment Management LLC Has $11.62 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

New York Life Investment Management LLC reduced its stake in shares of Schlumberger Limited (NYSE:SLB) by 2.1% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 223,373 shares of the oil and gas company’s stock after selling 4,698 shares during the quarter. New York Life Investment Management LLC’s holdings in Schlumberger were worth $11,624,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. BluePath Capital Management LLC bought a new stake in Schlumberger during the third quarter worth $25,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Schlumberger during the 4th quarter worth $26,000. Janiczek Wealth Management LLC boosted its stake in Schlumberger by 1,180.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 602 shares in the last quarter. Pinnacle Bancorp Inc. grew its position in Schlumberger by 64.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 292 shares during the last quarter. Finally, Motco raised its stake in Schlumberger by 52.7% during the third quarter. Motco now owns 823 shares of the oil and gas company’s stock worth $48,000 after acquiring an additional 284 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $47.68 on Thursday. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $68.15 billion, a PE ratio of 15.67, a P/E/G ratio of 0.91 and a beta of 1.64. The firm has a fifty day simple moving average of $51.69 and a 200 day simple moving average of $51.90. Schlumberger Limited has a twelve month low of $42.73 and a twelve month high of $62.12.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. During the same period last year, the company posted $0.63 EPS. The business’s quarterly revenue was up 12.6% on a year-over-year basis. On average, sell-side analysts forecast that Schlumberger Limited will post 3.51 EPS 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 dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.31%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger’s dividend payout ratio is presently 36.54%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SLB shares. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Bank of America decreased their target price on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. BMO Capital Markets cut their price objective on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Royal Bank of Canada upped their target price on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. Finally, Susquehanna reissued a “positive” rating and set a $77.00 price target on shares of Schlumberger 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 company’s stock. According to MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $68.72.

Insider Activity

In other news, EVP Abdellah Merad sold 50,000 shares of the company’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 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. In other 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 directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on 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 sale, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. 0.26% of the stock is currently 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.