Maryland State Retirement & Pension System Acquires 1,181 Shares of Schlumberger Limited (NYSE:SLB)

Maryland State Retirement & Pension System increased its position in Schlumberger Limited (NYSE:SLB) by 1.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 110,911 shares of the oil and gas company’s stock after acquiring an additional 1,181 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Schlumberger were worth $5,772,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BluePath Capital Management LLC bought a new stake in shares of Schlumberger during the third quarter worth $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Schlumberger during the fourth quarter valued at $26,000. Janiczek Wealth Management LLC increased its stake in shares of Schlumberger by 1,180.4% during 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 during the period. Pinnacle Bancorp Inc. grew its stake 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 purchasing an additional 292 shares during the last quarter. Finally, Motco grew its stake in Schlumberger by 52.7% in the third quarter. Motco now owns 823 shares of the oil and gas company’s stock valued at $48,000 after purchasing an additional 284 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was 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 owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was 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 owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was 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 disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Schlumberger Price Performance

Shares of NYSE SLB traded up $0.31 during trading on Monday, hitting $47.97. 9,857,742 shares of the company were exchanged, compared to its average volume of 11,153,605. The firm’s fifty day moving average price is $51.62 and its 200 day moving average price is $51.58. The company has a market cap of $68.57 billion, a price-to-earnings ratio of 15.94, a PEG ratio of 0.92 and a beta of 1.64. Schlumberger Limited has a 1 year low of $42.73 and a 1 year high of $62.12. 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 released its earnings results 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 during the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.63 earnings per share. On average, sell-side analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current fiscal 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 given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.29%. 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 payout ratio is 36.54%.

Wall Street Analyst Weigh In

SLB has been the topic of several analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $64.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Barclays decreased their price target on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. HSBC reissued a “buy” rating and issued a $71.00 price target on shares of Schlumberger in a report on Thursday, April 4th. Wells Fargo & Company downgraded Schlumberger from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $68.00 to $53.00 in a report on Monday, April 29th. Finally, TD Cowen reduced their target price on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.