Independence Bank of Kentucky Invests $1.08 Million in Schlumberger (SLB)

Independence Bank of Kentucky bought a new stake in Schlumberger (NYSE:SLB) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 16,050 shares of the oil and gas company’s stock, valued at approximately $1,082,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. EagleClaw Capital Managment LLC raised its stake in shares of Schlumberger by 0.5% in the second quarter. EagleClaw Capital Managment LLC now owns 23,475 shares of the oil and gas company’s stock valued at $1,545,000 after purchasing an additional 125 shares in the last quarter. AHL Partners LLP raised its stake in shares of Schlumberger by 1.2% in the second quarter. AHL Partners LLP now owns 24,305 shares of the oil and gas company’s stock valued at $1,600,000 after purchasing an additional 297 shares in the last quarter. Security National Bank of Sioux City Iowa IA raised its stake in shares of Schlumberger by 2.0% in the second quarter. Security National Bank of Sioux City Iowa IA now owns 16,547 shares of the oil and gas company’s stock valued at $1,089,000 after purchasing an additional 327 shares in the last quarter. Security National Bank of SO Dak grew its position in Schlumberger by 2.2% in the second quarter. Security National Bank of SO Dak now owns 15,052 shares of the oil and gas company’s stock valued at $991,000 after acquiring an additional 330 shares during the period. Finally, Optimum Investment Advisors grew its position in Schlumberger by 1.8% in the second quarter. Optimum Investment Advisors now owns 22,538 shares of the oil and gas company’s stock valued at $1,484,000 after acquiring an additional 409 shares during the period. Institutional investors and hedge funds own 79.90% of the company’s stock.

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A number of analysts have weighed in on the company. Cowen reiterated a “buy” rating and issued a $77.00 price target on shares of Schlumberger in a research report on Friday. Jefferies Group set a $85.00 price target on Schlumberger and gave the company a “buy” rating in a research report on Wednesday, April 4th. Susquehanna Bancshares set a $88.00 price target on Schlumberger and gave the company a “buy” rating in a research report on Monday, January 22nd. ValuEngine cut Schlumberger from a “hold” rating to a “sell” rating in a research report on Thursday, March 1st. Finally, Atlantic Securities upgraded Schlumberger from a “neutral” rating to an “overweight” rating in a research report on Monday, January 22nd. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $81.08.

In related news, insider Howard Guild sold 25,000 shares of the firm’s stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $78.26, for a total value of $1,956,500.00. Following the transaction, the insider now owns 22,410 shares in the company, valued at $1,753,806.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Simon Ayat sold 75,000 shares of the firm’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $78.86, for a total value of $5,914,500.00. Following the completion of the transaction, the chief financial officer now owns 138,827 shares in the company, valued at approximately $10,947,897.22. The disclosure for this sale can be found here. Insiders have bought 18,000 shares of company stock worth $1,163,650 in the last 90 days. Company insiders own 0.48% of the company’s stock.

Shares of SLB stock opened at $67.95 on Monday. The company has a current ratio of 1.21, a quick ratio of 0.95 and a debt-to-equity ratio of 0.40. The firm has a market cap of $93,498.52, a PE ratio of 45.30, a price-to-earnings-growth ratio of 5.34 and a beta of 1.05. Schlumberger has a 52 week low of $61.02 and a 52 week high of $80.35.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 19th. The oil and gas company reported $0.48 EPS for the quarter, topping the consensus estimate of $0.44 by $0.04. The company had revenue of $8.18 billion for the quarter, compared to analysts’ expectations of $8.12 billion. Schlumberger had a positive return on equity of 5.27% and a negative net margin of 4.94%. The business’s revenue for the quarter was up 15.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.27 earnings per share. equities analysts predict that Schlumberger will post 2.11 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 13th. Stockholders of record on Wednesday, February 7th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 2.94%. The ex-dividend date of this dividend was Tuesday, February 6th. Schlumberger’s payout ratio is presently 133.33%.

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Schlumberger Profile

Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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