Gallacher Capital Management LLC Raises Stake in Schlumberger Limited (NYSE:SLB)

Gallacher Capital Management LLC grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 12.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,156 shares of the oil and gas company’s stock after buying an additional 1,841 shares during the quarter. Gallacher Capital Management LLC’s holdings in Schlumberger were worth $619,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Prospera Private Wealth LLC purchased a new stake in Schlumberger during the 3rd quarter worth $29,000. YANKCOM Partnership purchased a new stake in shares of Schlumberger in the fourth quarter worth about $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Schlumberger in the fourth quarter worth about $32,000. Golden State Wealth Management LLC purchased a new position in Schlumberger in the 4th quarter worth approximately $34,000. Finally, Hager Investment Management Services LLC purchased a new position in Schlumberger in the 4th quarter worth approximately $38,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Stock Up 2.9 %

NYSE SLB opened at $41.10 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company’s 50 day simple moving average is $40.95 and its 200 day simple moving average is $41.49. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The company has a market capitalization of $55.89 billion, a P/E ratio of 13.21, a PEG ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. The firm 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 business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 EPS. Equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share 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 issued a $0.285 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.77%. Schlumberger’s dividend payout ratio is currently 36.66%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SLB shares. Jefferies Financial Group decreased their price target on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. BMO Capital Markets decreased their price objective on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Royal Bank of Canada reissued an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. Barclays lowered their price objective 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, JPMorgan Chase & Co. lifted their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Insider Activity

In related news, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the transaction, the insider now owns 30,829 shares in the company, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction on Tuesday, January 21st. The stock was 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 approximately $8,140,160.34. This trade represents a 40.00 % decrease in their position. 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 90 days. Company insiders own 0.26% of the company’s stock.

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.