Schlumberger Limited (NYSE:SLB) Shares Purchased by Avitas Wealth Management LLC

Avitas Wealth Management LLC raised its position in shares of Schlumberger Limited (NYSE:SLB) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 86,285 shares of the oil and gas company’s stock after acquiring an additional 410 shares during the period. Avitas Wealth Management LLC’s holdings in Schlumberger were worth $3,308,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SLB. ORG Partners LLC increased its position in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares in the last quarter. Prospera Private Wealth LLC purchased a new stake in Schlumberger during the third quarter worth approximately $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Schlumberger in the third quarter worth $37,000. DiNuzzo Private Wealth Inc. raised its stake in shares of Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 876 shares during the period. Finally, J. Stern & Co. LLP acquired a new position in shares of Schlumberger during the 3rd quarter valued at $47,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SLB has been the topic of several research reports. BMO Capital Markets cut their price objective on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Bank of America reduced their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Evercore ISI reaffirmed an “in-line” rating and issued a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Barclays reduced their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Finally, Citigroup raised their price target on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average price target of $55.81.

Insider Buying and Selling at Schlumberger

In other news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the sale, the insider now owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the transaction, the executive vice president now directly owns 210,502 shares of the company’s stock, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 263,782 shares of company stock worth $11,442,229. 0.26% of the stock is owned by insiders.

Schlumberger Trading Up 2.7 %

NYSE SLB opened at $41.23 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The company has a 50-day simple moving average of $40.42 and a 200-day simple moving average of $42.43. The firm has a market capitalization of $57.76 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 9.55 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its earnings results 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. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 earnings per share. On average, equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.76%. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

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.