Kovack Advisors Inc. Has $2.40 Million Stake in Schlumberger Limited (NYSE:SLB)

Kovack Advisors Inc. increased its position in shares of Schlumberger Limited (NYSE:SLB) by 6.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 43,720 shares of the oil and gas company’s stock after purchasing an additional 2,827 shares during the period. Kovack Advisors Inc.’s holdings in Schlumberger were worth $2,396,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger during the first quarter worth $27,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Schlumberger in the 4th quarter worth about $26,000. Transcendent Capital Group LLC bought a new stake in Schlumberger in the 4th quarter valued at about $32,000. Janiczek Wealth Management LLC boosted its holdings in Schlumberger by 1,180.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 602 shares during the period. Finally, American National Bank grew its position in shares of Schlumberger by 745.5% during the 4th quarter. American National Bank now owns 744 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 656 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on SLB shares. Stifel Nicolaus reiterated a “buy” rating and issued a $64.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. Susquehanna restated a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Citigroup cut their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Finally, Royal Bank of Canada lifted their price objective on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. Two investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $68.59.

Schlumberger Stock Up 1.3 %

SLB traded up $0.62 during trading on Thursday, hitting $47.31. 6,655,483 shares of the company’s stock were exchanged, compared to its average volume of 12,155,903. The stock has a market cap of $67.62 billion, a P/E ratio of 15.71, a PEG ratio of 0.90 and a beta of 1.55. The business’s 50 day moving average is $46.58 and its two-hundred day moving average is $49.53. Schlumberger Limited has a fifty-two week low of $42.61 and a fifty-two week high of $62.12. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49.

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

Schlumberger Increases Dividend

The company also recently disclosed 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 yield of 2.33%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s payout ratio is currently 36.54%.

Insider Transactions at Schlumberger

In related news, insider Bejar Carmen Rando sold 4,980 shares of the firm’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the transaction, the insider now directly owns 22,518 shares of the company’s stock, valued at $977,956.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Bejar Carmen Rando sold 4,980 shares of the business’s stock in a transaction that occurred on 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 approximately $977,956.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were 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 directly owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The disclosure for this sale can be found here. Insiders sold a total of 106,158 shares of company stock worth $5,099,893 in the last quarter. 0.26% of the stock is currently owned by corporate insiders.

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.