Grimes & Company Inc. Has $12.40 Million Stock Position in Schlumberger Limited (NYSE:SLB)

Grimes & Company Inc. grew its position in shares of Schlumberger Limited (NYSE:SLB) by 4.2% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 226,209 shares of the oil and gas company’s stock after acquiring an additional 9,141 shares during the quarter. Grimes & Company Inc.’s holdings in Schlumberger were worth $12,399,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Hilltop Holdings Inc. boosted its position in Schlumberger by 2.1% during the 4th quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock worth $560,000 after acquiring an additional 219 shares during the last quarter. Investment Advisory Services Inc. TX ADV boosted its position in Schlumberger by 1.9% during the 4th quarter. Investment Advisory Services Inc. TX ADV now owns 12,196 shares of the oil and gas company’s stock worth $635,000 after acquiring an additional 228 shares during the last quarter. Sunbelt Securities Inc. raised its stake in shares of Schlumberger by 2.2% during the 1st quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock worth $578,000 after purchasing an additional 230 shares in the last quarter. Horizon Bancorp Inc. IN raised its stake in shares of Schlumberger by 7.0% during the 4th quarter. Horizon Bancorp Inc. IN now owns 3,586 shares of the oil and gas company’s stock worth $187,000 after purchasing an additional 236 shares in the last quarter. Finally, Ancora Advisors LLC raised its stake in shares of Schlumberger by 3.6% during the 3rd quarter. Ancora Advisors LLC now owns 6,819 shares of the oil and gas company’s stock worth $398,000 after purchasing an additional 240 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of analyst reports. Morgan Stanley reiterated an “overweight” rating and set a $65.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Stifel Nicolaus reiterated a “buy” rating and set a $64.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Royal Bank of Canada raised their price target on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. Finally, Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Tuesday. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $68.59.

Schlumberger Price Performance

Shares of NYSE SLB traded up $0.17 during mid-day trading on Friday, reaching $47.18. The company had a trading volume of 14,139,873 shares, compared to its average volume of 14,274,646. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. Schlumberger Limited has a one year low of $42.61 and a one year high of $62.12. The firm has a market cap of $67.44 billion, a price-to-earnings ratio of 15.67, a PEG ratio of 0.90 and a beta of 1.57. The business’s 50-day simple moving average is $46.69 and its 200 day simple moving average is $49.61.

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

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be given a $0.275 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.33%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Buying and Selling

In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the transaction, the chief technology officer now owns 33,421 shares in the company, valued at $1,612,897.46. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Schlumberger news, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the transaction, the insider now owns 22,518 shares in the company, valued at $977,956.74. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the sale, the chief technology officer now owns 33,421 shares in the company, valued at $1,612,897.46. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 106,158 shares of company stock worth $5,099,893. Company insiders own 0.26% of the company’s stock.

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.