Smartleaf Asset Management LLC Raises Position in Schlumberger Limited (NYSE:SLB)

Smartleaf Asset Management LLC grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 15.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 22,776 shares of the oil and gas company’s stock after purchasing an additional 3,121 shares during the period. Smartleaf Asset Management LLC’s holdings in Schlumberger were worth $861,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SLB. Prospera Private Wealth LLC purchased a new stake in shares of Schlumberger during the 3rd quarter valued at $29,000. YANKCOM Partnership purchased a new stake in shares of Schlumberger during the 4th quarter valued at $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Schlumberger during the 4th quarter valued at $32,000. Golden State Wealth Management LLC purchased a new stake in shares of Schlumberger during the 4th quarter valued at $34,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Schlumberger during the 3rd quarter valued at $37,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity

In related news, insider Gavin Rennick sold 26,990 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value of $1,104,430.80. Following the transaction, the insider now directly owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. This trade represents a 33.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the transaction, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 290,772 shares of company stock worth $12,546,660 in the last ninety days. Company insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

NYSE:SLB opened at $39.81 on Tuesday. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $54.14 billion, a PE ratio of 12.80, a price-to-earnings-growth ratio of 10.10 and a beta of 1.51. The stock’s 50-day moving average price is $40.56 and its 200-day moving average price is $41.76.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. During the same period last year, the firm earned $0.86 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.86%. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. raised their target price on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Barclays reduced their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Finally, 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 research note on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Company 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.