Schlumberger Limited (NYSE:SLB) Shares Acquired by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC boosted its stake in Schlumberger Limited (NYSE:SLB) by 10.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 15,617 shares of the oil and gas company’s stock after purchasing an additional 1,441 shares during the period. Kingswood Wealth Advisors LLC’s holdings in Schlumberger were worth $599,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the transaction, the executive vice president now owns 184,626 shares in the company, valued at $8,140,160.34. This represents a 40.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the sale, the executive vice president now directly owns 210,502 shares of the company’s stock, valued at approximately $8,723,202.88. The trade was a 22.18 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 258,258 shares of company stock valued at $11,219,004. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

SLB has been the subject of a number of analyst reports. Stifel Nicolaus reduced their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Citigroup boosted their price target on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Jefferies Financial Group decreased their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Finally, TD Cowen boosted their target price on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Six equities research 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 stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.81.

Schlumberger Stock Performance

Shares of SLB stock opened at $40.87 on Thursday. The stock’s fifty day simple moving average is $40.69 and its 200-day simple moving average is $42.66. The company has a market capitalization of $57.25 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 9.98 and a beta of 1.52. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last issued 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 company had revenue of $9.28 billion for 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%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. On average, sell-side analysts predict that Schlumberger Limited will post 3.34 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.79%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is currently 36.66%.

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.