Wealth Effects LLC Acquires New Shares in Schlumberger Limited (NYSE:SLB)

Wealth Effects LLC bought a new position in Schlumberger Limited (NYSE:SLB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 9,400 shares of the oil and gas company’s stock, valued at approximately $360,000.

A number of other hedge funds also recently added to or reduced their stakes in SLB. ORG Partners LLC boosted its stake in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares during the period. Prospera Private Wealth LLC acquired a new position in shares of Schlumberger during the third quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new position in Schlumberger in the 3rd quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. increased its position in Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 876 shares during the period. Finally, J. Stern & Co. LLP bought a new stake in Schlumberger during the 3rd quarter valued at $47,000. 81.99% of the stock is currently owned by institutional investors.

Insider Transactions at Schlumberger

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the transaction, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. The trade was a 38.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were 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 directly 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 disclosure for this sale can be found here. Over the last three months, insiders sold 198,258 shares of company stock worth $8,732,604. 0.26% of the stock is owned by insiders.

Schlumberger Stock Up 0.7 %

SLB stock opened at $42.55 on Tuesday. The firm has a market cap of $60.08 billion, a PE ratio of 13.68, a PEG ratio of 9.98 and a beta of 1.52. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The company has a fifty day simple moving average of $40.74 and a 200 day simple moving average of $42.72. 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 (NYSE:SLB) last released its quarterly earnings results 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. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9,241,140 billion. During the same quarter in the prior year, the company posted $0.86 EPS. The firm’s revenue was up 3.3% on a year-over-year basis. Sell-side analysts anticipate that Schlumberger Limited will post 3.34 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a $0.285 dividend. This is a positive change 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 2.68%. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on SLB shares. Barclays cut their price objective 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. TD Cowen upped their price target on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Jefferies Financial Group lowered their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a report on Tuesday, January 21st. Six investment 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.81.

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.