Holowesko Partners Ltd. Grows Position in Schlumberger Limited (NYSE:SLB)

Holowesko Partners Ltd. boosted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 82.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 356,200 shares of the oil and gas company's stock after purchasing an additional 160,600 shares during the quarter. Schlumberger comprises 6.3% of Holowesko Partners Ltd.'s investment portfolio, making the stock its 8th biggest position. Holowesko Partners Ltd.'s holdings in Schlumberger were worth $13,657,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. YANKCOM Partnership purchased a new stake in shares of Schlumberger in the fourth quarter worth $31,000. Stonebridge Financial Group LLC bought a new position in Schlumberger in the 4th quarter worth about $32,000. Golden State Wealth Management LLC bought a new stake in shares of Schlumberger during the 4th quarter valued at about $34,000. Hager Investment Management Services LLC purchased a new position in shares of Schlumberger during the fourth quarter worth about $38,000. Finally, Bogart Wealth LLC increased its position in shares of Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock worth $39,000 after purchasing an additional 844 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, insider Gavin Rennick sold 26,990 shares of the 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 completion of the transaction, the insider now directly owns 53,584 shares in the company, valued at $2,192,657.28. This trade represents a 33.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bejar Carmen Rando sold 5,524 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the sale, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. The trade was a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 315,905 shares of company stock worth $13,609,283 over the last three months. Company insiders own 0.26% of the company's stock.

Remove Ads

Wall Street Analyst Weigh In

SLB has been the subject of a number of research reports. Griffin Securities cut shares of Schlumberger from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. JPMorgan Chase & Co. increased their target price on Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. Wells Fargo & Company dropped their price target on Schlumberger from $49.00 to $46.00 and set an "equal weight" rating for the company in a research note on Tuesday, December 17th. Jefferies Financial Group cut their price objective on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a report on Thursday, March 27th. Finally, Evercore ISI reissued an "in-line" rating and set a $44.00 price objective (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $55.69.

Schlumberger Trading Down 6.8 %

SLB traded down $2.87 during midday trading on Thursday, reaching $39.32. 21,076,980 shares of the company's stock traded hands, compared to its average volume of 12,259,230. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.65. 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 firm has a fifty day moving average of $41.23 and a two-hundred day moving average of $41.50. The stock has a market capitalization of $53.47 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 10.10 and a beta of 1.11.

Schlumberger (NYSE:SLB - Get Free Report) last announced 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. The company had revenue of $9.28 billion during 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 firm's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. On average, equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors 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 represents a $1.14 annualized dividend and a dividend yield of 2.90%. This is a boost from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's payout ratio is currently 36.66%.

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.