Romano Brothers AND Company boosted its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 22.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 75,750 shares of the oil and gas company's stock after purchasing an additional 14,025 shares during the period. Romano Brothers AND Company's holdings in Schlumberger were worth $2,904,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky grew its position in shares of Schlumberger by 25.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company's stock valued at $31,961,000 after buying an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock valued at $3,223,000 after acquiring an additional 16,350 shares during the last quarter. Victory Capital Management Inc. increased its position in Schlumberger by 8.7% during the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company's stock valued at $34,305,000 after purchasing an additional 65,318 shares during the period. Concurrent Investment Advisors LLC raised its holdings in Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company's stock worth $827,000 after purchasing an additional 14,376 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its position in shares of Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company's stock worth $89,723,000 after purchasing an additional 11,813 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.
Schlumberger Stock Up 6.1 %
Shares of NYSE SLB traded up $2.49 during mid-day trading on Friday, reaching $43.58. 30,717,717 shares of the company's stock traded hands, compared to its average volume of 10,770,376. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69. The stock has a market cap of $61.54 billion, a P/E ratio of 14.01, a PEG ratio of 1.35 and a beta of 1.52. The business has a 50-day simple moving average of $40.86 and a 200 day simple moving average of $42.87.
Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9,241,140 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The company's quarterly revenue was up 3.3% compared to the same quarter last year. On average, analysts expect that Schlumberger Limited will post 3.39 EPS for the current fiscal year.
Schlumberger Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This is a boost from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.62%. Schlumberger's dividend payout ratio (DPR) is 35.37%.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on SLB shares. BMO Capital Markets decreased their price objective on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday. JPMorgan Chase & Co. decreased their price target on Schlumberger from $55.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, January 2nd. Stifel Nicolaus dropped their price objective on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, December 23rd. Bank of America cut their target price on Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, October 14th. Finally, Evercore ISI reiterated an "in-line" rating and issued a $44.00 target price (down from $62.00) on shares of Schlumberger in a report on Wednesday. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $56.03.
Get Our Latest Stock Analysis on SLB
Insiders Place Their Bets
In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares of the company's stock, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.26% of the company's stock.
About Schlumberger
(
Free Report)
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.
See Also
Before you consider Schlumberger, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Schlumberger wasn't on the list.
While Schlumberger currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.