Addison Advisors LLC Has $107,000 Stock Holdings in Schlumberger Limited (NYSE:SLB)

Addison Advisors LLC lowered its holdings in Schlumberger Limited (NYSE:SLB) by 26.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,802 shares of the oil and gas company’s stock after selling 986 shares during the quarter. Addison Advisors LLC’s holdings in Schlumberger were worth $107,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in SLB. Prospera Private Wealth LLC acquired a new stake in Schlumberger during the third quarter worth about $29,000. YANKCOM Partnership bought a new stake in shares of Schlumberger in the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Schlumberger during the 4th quarter worth approximately $32,000. Ashton Thomas Securities LLC bought a new stake in shares of Schlumberger during the third quarter valued at approximately $37,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at $34,000. 81.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. TD Cowen boosted their price target on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Barclays lowered their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. Citigroup upped their price objective on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Stock Down 1.2 %

NYSE:SLB opened at $41.02 on Wednesday. The stock’s fifty day moving average price is $40.27 and its two-hundred day moving average price is $41.86. The company has a market cap of $55.77 billion, a price-to-earnings ratio of 13.19, a P/E/G ratio of 10.10 and a beta of 1.51. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. 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 (NYSE:SLB) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 earnings per share. On average, analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently declared 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 dividend yield of 2.78%. 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 payout ratio is 36.66%.

Insider Activity at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 123,097 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the sale, the executive vice president now owns 184,626 shares in the company, valued at approximately $8,140,160.34. This represents a 40.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction dated 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 $2,179,204.30. The trade was a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 263,782 shares of company stock worth $11,442,229 over the last ninety days. Company insiders own 0.26% of the company’s stock.

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.