Private Wealth Partners LLC Purchases 1,000 Shares of Schlumberger Limited (NYSE:SLB)

Private Wealth Partners LLC lifted its position in shares of Schlumberger Limited (NYSE:SLB) by 23.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,205 shares of the oil and gas company’s stock after acquiring an additional 1,000 shares during the quarter. Private Wealth Partners LLC’s holdings in Schlumberger were worth $271,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Highland Capital Management LLC grew its stake in shares of Schlumberger by 2,494.0% during the fourth quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock worth $5,278,000 after purchasing an additional 97,516 shares during the period. Guinness Asset Management LTD grew its stake in shares of Schlumberger by 0.3% during the third quarter. Guinness Asset Management LTD now owns 331,309 shares of the oil and gas company’s stock worth $19,468,000 after purchasing an additional 965 shares during the period. Nordea Investment Management AB grew its stake in shares of Schlumberger by 36.4% during the fourth quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock worth $74,080,000 after purchasing an additional 380,185 shares during the period. Allworth Financial LP grew its stake in Schlumberger by 3.8% in the third quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock valued at $324,000 after acquiring an additional 206 shares during the period. Finally, Asset Management One Co. Ltd. grew its stake in Schlumberger by 6.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock valued at $31,726,000 after acquiring an additional 35,763 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the transaction, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gavin Rennick sold 20,045 shares of Schlumberger stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $48.77, for a total transaction of $977,594.65. Following the completion of the sale, the insider now directly owns 77,563 shares in the company, valued at approximately $3,782,747.51. The disclosure for this sale can be found here. Insiders have sold 90,545 shares of company stock worth $4,458,430 in the last 90 days. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SLB. TD Cowen decreased their target price on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $64.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Finally, Benchmark reaffirmed a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $69.67.

Schlumberger Stock Down 0.5 %

Shares of SLB traded down $0.24 during trading hours on Friday, hitting $49.20. The stock had a trading volume of 8,250,858 shares, compared to its average volume of 9,808,635. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The firm has a 50 day simple moving average of $51.74 and a 200-day simple moving average of $52.17. The firm has a market capitalization of $70.32 billion, a P/E ratio of 16.35, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. Schlumberger Limited has a 1-year low of $42.73 and a 1-year high of $62.12.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the business posted $0.63 EPS. Sell-side analysts predict that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.24%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is 36.54%.

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.