Oak Harvest Investment Services Has $12.42 Million Holdings in Schlumberger Limited (NYSE:SLB)

Oak Harvest Investment Services lifted its stake in shares of Schlumberger Limited (NYSE:SLB) by 89.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,532 shares of the oil and gas company’s stock after purchasing an additional 107,206 shares during the quarter. Schlumberger comprises 2.1% of Oak Harvest Investment Services’ investment portfolio, making the stock its 9th biggest holding. Oak Harvest Investment Services’ holdings in Schlumberger were worth $12,416,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently made changes to their positions in the company. Carolinas Wealth Consulting LLC increased its position in shares of Schlumberger by 53.5% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock worth $102,000 after acquiring an additional 683 shares in the last quarter. Highland Capital Management LLC raised its stake in shares of Schlumberger by 2,494.0% in the fourth quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock worth $5,278,000 after purchasing an additional 97,516 shares during the last quarter. Nordea Investment Management AB lifted its holdings in shares of Schlumberger by 36.4% in the fourth quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock valued at $74,080,000 after purchasing an additional 380,185 shares in the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Schlumberger by 6.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock valued at $31,726,000 after buying an additional 35,763 shares during the last quarter. Finally, Sapient Capital LLC bought a new stake in Schlumberger during the fourth quarter worth $1,389,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Schlumberger

In related news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction on 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 completion of the sale, the chief technology officer now owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction on Friday, June 7th. The stock was 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 in the company, valued at $977,956.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CTO Demosthenis Pafitis sold 63,095 shares of the firm’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 completion of the transaction, the chief technology officer now directly owns 33,421 shares in the company, valued at approximately $1,612,897.46. The disclosure for this sale can be found here. Insiders have sold a total of 106,158 shares of company stock worth $5,099,893 over the last quarter. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on SLB. TD Cowen cut their price objective on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Royal Bank of Canada increased 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. Susquehanna restated a “positive” rating and issued a $77.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Bank of America decreased their price target on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $68.59.

Schlumberger Stock Up 1.3 %

Shares of NYSE SLB traded up $0.62 during mid-day trading on Thursday, hitting $47.31. 6,655,483 shares of the stock traded hands, compared to its average volume of 12,155,903. The company has a market cap of $67.62 billion, a price-to-earnings ratio of 15.72, a PEG ratio of 0.90 and a beta of 1.55. The stock has a fifty day moving average price of $46.54 and a 200-day moving average price of $49.51. Schlumberger Limited has a 52 week low of $42.61 and a 52 week high of $62.12. 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 (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, meeting 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 during the quarter, compared to analyst estimates of $8.70 billion. During the same quarter last year, the company earned $0.63 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. Research analysts anticipate that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

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

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.