Schlumberger Limited (NYSE:SLB) Shares Bought by Stonegate Investment Group LLC

Stonegate Investment Group LLC lifted its stake in shares of Schlumberger Limited (NYSE:SLB) by 22.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,706 shares of the oil and gas company’s stock after buying an additional 5,053 shares during the quarter. Stonegate Investment Group LLC’s holdings in Schlumberger were worth $1,062,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Grove Bank & Trust raised its position in Schlumberger by 17.4% in the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after acquiring an additional 224 shares in the last quarter. M&R Capital Management Inc. grew its stake in shares of Schlumberger by 1.7% during the 3rd quarter. M&R Capital Management Inc. now owns 14,817 shares of the oil and gas company’s stock worth $622,000 after purchasing an additional 241 shares during the period. CX Institutional increased its holdings in shares of Schlumberger by 2.4% in the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock valued at $398,000 after purchasing an additional 244 shares in the last quarter. GM Advisory Group LLC lifted its stake in shares of Schlumberger by 3.8% in the third quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock valued at $281,000 after purchasing an additional 247 shares during the period. Finally, Cordatus Wealth Management LLC boosted its holdings in Schlumberger by 2.1% during the third quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock worth $561,000 after buying an additional 281 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $41.33 on Wednesday. The business has a fifty day simple moving average of $40.73 and a 200-day simple moving average of $42.69. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The company has a market cap of $58.36 billion, a P/E ratio of 13.29, a P/E/G ratio of 9.98 and a beta of 1.52. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter in the prior year, the company posted $0.86 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts forecast that Schlumberger Limited will post 3.34 EPS for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.76%. Schlumberger’s payout ratio is currently 35.37%.

Insider Transactions at Schlumberger

In other news, VP Ugo Prechner sold 7,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. This represents a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the completion of the transaction, the executive vice president now directly owns 184,626 shares in the company, valued at approximately $8,140,160.34. This represents a 40.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 198,258 shares of company stock worth $8,732,604 in the last ninety days. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of research analyst reports. Jefferies Financial Group dropped their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. JPMorgan Chase & Co. lifted their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Stifel Nicolaus decreased their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

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.