Stablepoint Partners LLC Acquires 2,120 Shares of Schlumberger Limited (NYSE:SLB)

Stablepoint Partners LLC lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 8.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,960 shares of the oil and gas company’s stock after purchasing an additional 2,120 shares during the quarter. Stablepoint Partners LLC’s holdings in Schlumberger were worth $995,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky increased its stake in Schlumberger by 25.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after acquiring an additional 156,698 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in shares of Schlumberger by 27.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after purchasing an additional 16,350 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Schlumberger by 8.7% in the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after purchasing an additional 65,318 shares during the period. Concurrent Investment Advisors LLC raised its stake in Schlumberger by 269.1% in the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after purchasing an additional 14,376 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in Schlumberger by 26.0% during the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock worth $12,880,000 after purchasing an additional 63,413 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Schlumberger

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The stock was 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 directly owns 11,240 shares in the company, valued at approximately $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value 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 a total of 198,258 shares of company stock worth $8,732,604 over the last quarter. Company insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 0.6 %

NYSE SLB opened at $42.30 on Monday. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $59.73 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 9.98 and a beta of 1.52. The business’s 50-day moving average price is $40.74 and its two-hundred day moving average price is $42.74.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9,241,140 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.86 EPS. On average, analysts expect that Schlumberger Limited will post 3.34 EPS for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on SLB. Evercore ISI restated an “in-line” rating and issued a $44.00 target price (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. BMO Capital Markets cut their target price on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Wells Fargo & Company lowered their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Atb Cap Markets cut 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, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.81.

Schlumberger 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.