Waterfront Wealth Inc. Sells 615 Shares of Schlumberger Limited (NYSE:SLB)

Waterfront Wealth Inc. lowered its position in Schlumberger Limited (NYSE:SLB) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,465 shares of the oil and gas company’s stock after selling 615 shares during the period. Waterfront Wealth Inc.’s holdings in Schlumberger were worth $938,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new stake in Schlumberger in the 3rd quarter valued at $29,000. YANKCOM Partnership bought a new position in shares of Schlumberger in the fourth quarter valued at $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger during the fourth quarter valued at about $32,000. Ashton Thomas Securities LLC bought a new stake in shares of Schlumberger during the third quarter worth about $37,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Schlumberger in the 4th quarter worth about $34,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of analyst reports. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Wells Fargo & Company cut their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Jefferies Financial Group dropped their price objective on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Citigroup upped their target price on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, TD Cowen boosted their price target on shares of Schlumberger from $53.00 to $55.00 and gave the stock 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 issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.81.

Insider Buying and Selling

In related news, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the transaction, the director now owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 263,782 shares of company stock worth $11,442,229. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 2.1 %

NYSE:SLB opened at $41.73 on Friday. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The stock’s fifty day moving average price is $40.20 and its two-hundred day moving average price is $41.91. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company has a market cap of $58.45 billion, a P/E ratio of 13.42, a P/E/G ratio of 10.00 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 earnings per share. As a group, analysts expect that Schlumberger Limited will post 3.38 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 given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.73%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

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.