Summit Financial LLC Has $1.15 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Summit Financial LLC increased its position in Schlumberger Limited (NYSE:SLB) by 52.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,723 shares of the oil and gas company’s stock after buying an additional 10,173 shares during the quarter. Summit Financial LLC’s holdings in Schlumberger were worth $1,147,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in SLB. Norges Bank bought a new position in shares of Schlumberger during the fourth quarter valued at $735,398,000. Pacer Advisors Inc. raised its position in Schlumberger by 12,289.6% during the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock worth $500,082,000 after purchasing an additional 12,938,082 shares during the last quarter. Clearbridge Investments LLC raised its position in Schlumberger by 43,028.0% during the 4th quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company’s stock worth $101,708,000 after purchasing an additional 2,646,653 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Schlumberger by 196.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,312,304 shares of the oil and gas company’s stock valued at $88,654,000 after buying an additional 1,533,366 shares during the last quarter. Finally, Boston Partners increased its stake in shares of Schlumberger by 9.9% in the fourth quarter. Boston Partners now owns 15,529,159 shares of the oil and gas company’s stock valued at $597,356,000 after buying an additional 1,405,186 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on SLB. TD Cowen upped their target price on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Wells Fargo & Company reduced their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Evercore ISI restated an “in-line” rating and issued a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.69.

Schlumberger Stock Up 0.8 %

SLB stock opened at $42.11 on Wednesday. The stock’s 50 day moving average is $41.22 and its 200-day moving average is $41.50. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.65. The firm has a market capitalization of $57.27 billion, a PE ratio of 13.54, a P/E/G ratio of 10.10 and a beta of 1.47. 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 EPS. Sell-side analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed 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. This represents a $1.14 dividend on an annualized basis and a yield of 2.71%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio is presently 36.66%.

Insiders Place Their Bets

In other news, insider Dianne B. Ralston sold 43,161 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the sale, the insider now directly owns 235,024 shares of the company’s stock, valued at $10,331,655.04. This trade represents a 15.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the transaction, the vice president now directly owns 11,240 shares in the company, valued at $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 315,905 shares of company stock valued at $13,609,283 in the last 90 days. 0.26% of the stock is currently owned by corporate insiders.

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.