Daymark Wealth Partners LLC Increases Holdings in Schlumberger Limited (NYSE:SLB)

Daymark Wealth Partners LLC increased its stake in Schlumberger Limited (NYSE:SLB) by 4.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 10,338 shares of the oil and gas company’s stock after purchasing an additional 467 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Schlumberger were worth $432,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. TCW Group Inc. grew its position in Schlumberger by 1.3% during the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock worth $759,000 after buying an additional 259 shares in the last quarter. Vident Advisory LLC grew its position in Schlumberger by 1.0% during the fourth quarter. Vident Advisory LLC now owns 27,838 shares of the oil and gas company’s stock worth $1,067,000 after buying an additional 273 shares in the last quarter. Glen Eagle Advisors LLC grew its position in Schlumberger by 3.7% during the fourth quarter. Glen Eagle Advisors LLC now owns 7,843 shares of the oil and gas company’s stock worth $301,000 after buying an additional 282 shares in the last quarter. Cromwell Holdings LLC grew its position in Schlumberger by 7.0% during the fourth quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock worth $167,000 after buying an additional 283 shares in the last quarter. Finally, Laidlaw Wealth Management LLC grew its position in Schlumberger by 1.3% during the fourth quarter. Laidlaw Wealth Management LLC now owns 23,085 shares of the oil and gas company’s stock worth $885,000 after buying an additional 305 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the transaction, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. This represents a 44.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director La Chevardiere Patrick De sold 5,000 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director now owns 23,525 shares in the company, valued at $789,969.50. This trade represents a 17.53% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Schlumberger Trading Up 4.1%

NYSE SLB opened at $35.52 on Wednesday. Schlumberger Limited has a 1-year low of $31.11 and a 1-year high of $50.94. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The stock has a 50-day moving average of $34.20 and a 200-day moving average of $38.51. The firm has a market cap of $48.31 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 10.10 and a beta of 1.01.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $8.49 billion for the quarter, compared to analysts’ expectations of $8.64 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.21%. Schlumberger’s dividend payout ratio is presently 38.64%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Jefferies Financial Group reduced their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday, March 27th. Wells Fargo & Company dropped their price target on Schlumberger from $46.00 to $43.00 and set an “overweight” rating for the company in a research note on Thursday, June 5th. Susquehanna dropped their price target on Schlumberger from $48.00 to $46.00 and set a “positive” rating for the company in a research note on Monday, April 28th. Morgan Stanley dropped their price target on Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Finally, Stifel Nicolaus dropped their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Four equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $52.38.

About Schlumberger

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.