Whalen Wealth Management Inc. Buys 3,705 Shares of Schlumberger Limited (NYSE:SLB)

Whalen Wealth Management Inc. grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 37.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,538 shares of the oil and gas company’s stock after buying an additional 3,705 shares during the quarter. Whalen Wealth Management Inc.’s holdings in Schlumberger were worth $566,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. True Wealth Design LLC boosted its holdings in shares of Schlumberger by 584.7% in the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock valued at $38,000 after purchasing an additional 842 shares during the period. Mpwm Advisory Solutions LLC purchased a new stake in shares of Schlumberger during the 4th quarter valued at $40,000. Sound Income Strategies LLC lifted its holdings in shares of Schlumberger by 265.4% during the 1st quarter. Sound Income Strategies LLC now owns 961 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 698 shares during the last quarter. J.Safra Asset Management Corp acquired a new position in shares of Schlumberger in the 4th quarter valued at $46,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Schlumberger in the 4th quarter valued at $47,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Down 0.1%

Schlumberger stock opened at $35.82 on Monday. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94. The stock’s fifty day simple moving average is $34.54 and its 200-day simple moving average is $38.06. The company has a current ratio of 1.24, a quick ratio of 0.93 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $48.71 billion, a P/E ratio of 12.14, a P/E/G ratio of 9.29 and a beta of 1.02.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 25th. The oil and gas company reported $0.72 EPS for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a net margin of 11.62% and a return on equity of 21.76%. The business had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.64 billion. During the same period last year, the company earned $0.75 EPS. The business’s quarterly revenue was down 2.5% compared to the same quarter last year. As a group, equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be paid a dividend of $0.285 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.18%. Schlumberger’s dividend payout ratio (DPR) is 38.64%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SLB shares. Morgan Stanley decreased their price objective on Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Friday, May 16th. Stifel Nicolaus lowered their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, April 28th. Susquehanna lowered their price objective on Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a report on Monday, April 28th. Wells Fargo & Company lowered their target price on Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday, June 5th. Finally, Jefferies Financial Group reduced their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Four equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $52.38.

Insider Activity at Schlumberger

In related news, insider Aparna Raman sold 25,133 shares of the firm’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the sale, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. This trade represents a 44.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director La Chevardiere Patrick De sold 5,000 shares of Schlumberger stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $33.58, for a total transaction of $167,900.00. Following the completion of the transaction, the director now owns 23,525 shares in the company, valued at approximately $789,969.50. This trade represents a 17.53% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by 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.