Schlumberger Limited (NYSE:SLB) Shares Bought by Paladin Wealth LLC

Paladin Wealth LLC grew its holdings in Schlumberger Limited (NYSE:SLB) by 22.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,234 shares of the oil and gas company’s stock after buying an additional 2,807 shares during the period. Paladin Wealth LLC’s holdings in Schlumberger were worth $584,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Eukles Asset Management raised its holdings in Schlumberger by 5.5% in the 4th quarter. Eukles Asset Management now owns 9,261 shares of the oil and gas company’s stock valued at $355,000 after acquiring an additional 482 shares during the last quarter. Soltis Investment Advisors LLC grew its position in shares of Schlumberger by 2.0% in the fourth quarter. Soltis Investment Advisors LLC now owns 18,084 shares of the oil and gas company’s stock valued at $693,000 after purchasing an additional 350 shares in the last quarter. Wingate Wealth Advisors Inc. acquired a new stake in shares of Schlumberger in the fourth quarter valued at approximately $53,000. Savant Capital LLC lifted its position in Schlumberger by 47.0% during the fourth quarter. Savant Capital LLC now owns 57,930 shares of the oil and gas company’s stock worth $2,221,000 after buying an additional 18,534 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in Schlumberger during the fourth quarter worth $71,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. TD Cowen raised their target price on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Citigroup lifted their price target on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Six equities 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 has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Stock Up 2.6 %

Shares of SLB opened at $41.19 on Tuesday. The company’s 50-day simple moving average is $40.17 and its 200-day simple moving average is $42.19. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The stock has a market capitalization of $57.71 billion, a PE ratio of 13.25, a P/E/G ratio of 9.49 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its earnings results 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 company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 EPS. Analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business 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 annualized dividend and a yield of 2.77%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is presently 36.66%.

Insiders Place Their Bets

In other 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the firm’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 transaction of $1,098,500.00. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 263,782 shares of company stock worth $11,442,229 in the last quarter. 0.26% of the stock is owned by company 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.