Inlet Private Wealth LLC Has $755,000 Stock Position in Schlumberger Limited (NYSE:SLB)

Inlet Private Wealth LLC grew its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 82.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 19,690 shares of the oil and gas company's stock after purchasing an additional 8,900 shares during the quarter. Inlet Private Wealth LLC's holdings in Schlumberger were worth $755,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SLB. Pacer Advisors Inc. raised its holdings in Schlumberger by 12,289.6% in the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock worth $500,082,000 after purchasing an additional 12,938,082 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Schlumberger by 20.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company's stock worth $470,425,000 after buying an additional 1,916,851 shares during the period. Scharf Investments LLC bought a new position in Schlumberger during the fourth quarter worth about $52,607,000. Weiss Asset Management LP acquired a new position in Schlumberger in the third quarter valued at about $37,322,000. Finally, AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Schlumberger in the fourth quarter worth about $25,481,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Buying and Selling

In related news, insider Bejar Carmen Rando sold 5,524 shares of the company's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the sale, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. This represents a 15.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the transaction, the executive vice president now owns 210,502 shares in the company, valued at approximately $8,723,202.88. This represents a 22.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 263,782 shares of company stock valued at $11,442,229 over the last 90 days. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Performance

Shares of Schlumberger stock traded down $0.81 on Friday, hitting $40.21. The stock had a trading volume of 13,101,326 shares, compared to its average volume of 14,117,565. The stock has a market cap of $56.32 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 9.70 and a beta of 1.52. The business's 50 day moving average is $40.49 and its two-hundred day moving average is $42.54. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share 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 analysts' expectations of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 EPS. Analysts forecast that Schlumberger Limited will post 3.38 EPS for the current 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 paid a $0.285 dividend. This is a boost from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Wednesday, February 5th. Schlumberger's payout ratio is 35.37%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SLB. Sanford C. Bernstein upgraded Schlumberger to a "strong-buy" rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. Jefferies Financial Group lowered their target price on Schlumberger from $64.00 to $61.00 and set a "buy" rating for the company in a report on Friday, January 3rd. TD Cowen upped their price objective on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Finally, Bank of America decreased their price target on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research note on Monday, October 14th. 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 company's stock. Based on data from MarketBeat, Schlumberger has an average rating of "Moderate Buy" and a consensus 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.