BKM Wealth Management LLC Raises Stake in Schlumberger Limited (NYSE:SLB)

BKM Wealth Management LLC increased its position in shares of Schlumberger Limited (NYSE:SLB) by 4.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,705 shares of the oil and gas company’s stock after acquiring an additional 558 shares during the quarter. BKM Wealth Management LLC’s holdings in Schlumberger were worth $525,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLB. Beta Wealth Group Inc. acquired a new position in Schlumberger in the fourth quarter valued at $3,964,000. Atria Wealth Solutions Inc. grew its holdings in Schlumberger by 41.4% in the 4th quarter. Atria Wealth Solutions Inc. now owns 44,830 shares of the oil and gas company’s stock valued at $1,719,000 after buying an additional 13,134 shares during the period. Kornitzer Capital Management Inc. KS increased its stake in shares of Schlumberger by 2.4% during the 4th quarter. Kornitzer Capital Management Inc. KS now owns 1,575,758 shares of the oil and gas company’s stock valued at $60,415,000 after acquiring an additional 36,574 shares during the last quarter. Mraz Amerine & Associates Inc. lifted its holdings in shares of Schlumberger by 13.3% during the 4th quarter. Mraz Amerine & Associates Inc. now owns 95,391 shares of the oil and gas company’s stock worth $3,657,000 after acquiring an additional 11,197 shares during the period. Finally, D.A. Davidson & CO. boosted its position in shares of Schlumberger by 0.8% in the fourth quarter. D.A. Davidson & CO. now owns 128,066 shares of the oil and gas company’s stock worth $4,910,000 after acquiring an additional 1,013 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Down 0.8 %

SLB stock opened at $41.75 on Tuesday. The firm’s 50-day simple moving average is $40.08 and its 200 day simple moving average is $41.96. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The stock has a market cap of $58.48 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 9.49 and a beta of 1.51. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 2.73%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio is presently 36.66%.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the sale, the executive vice president now owns 210,502 shares in the company, valued at approximately $8,723,202.88. The trade was a 22.18 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the transaction, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 263,782 shares of company stock valued at $11,442,229 in the last quarter. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on SLB. Wells Fargo & Company decreased their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Barclays reduced their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Susquehanna dropped their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

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.