Shelton Wealth Management LLC Invests $1.05 Million in Schlumberger Limited (NYSE:SLB)

Shelton Wealth Management LLC purchased a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 27,474 shares of the oil and gas company's stock, valued at approximately $1,053,000.

A number of other institutional investors have also modified their holdings of the stock. State Street Corp lifted its stake in shares of Schlumberger by 0.6% in the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company's stock valued at $3,808,476,000 after purchasing an additional 528,279 shares during the period. Geode Capital Management LLC raised its position in shares of Schlumberger by 0.8% in the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company's stock worth $1,195,290,000 after acquiring an additional 239,966 shares during the period. Legal & General Group Plc boosted its stake in shares of Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company's stock worth $598,544,000 after acquiring an additional 1,560,684 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of 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 valued at $470,425,000 after acquiring an additional 1,916,851 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Schlumberger by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company's stock valued at $335,214,000 after purchasing an additional 31,718 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the company's 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 sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by company insiders.

Schlumberger Trading Up 6.1 %

SLB traded up $2.49 during mid-day trading on Friday, hitting $43.58. 30,717,717 shares of the stock were exchanged, compared to its average volume of 10,770,376. The company has a market cap of $61.54 billion, a PE ratio of 14.01, a PEG ratio of 1.35 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The firm's fifty day moving average is $40.86 and its two-hundred day moving average is $42.90. Schlumberger Limited has a 1-year low of $36.52 and a 1-year 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 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9,241,140 billion. During the same quarter last year, the firm posted $0.86 earnings per share. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts forecast that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.62%. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio is currently 35.37%.

Analysts Set New Price Targets

SLB has been the topic of several research analyst reports. Atb Cap Markets lowered Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. BMO Capital Markets dropped their price target on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday. Wells Fargo & Company cut their price target on shares of Schlumberger from $49.00 to $46.00 and set an "equal weight" rating for the company in a report on Tuesday, December 17th. TD Cowen cut their price objective on shares of Schlumberger from $65.00 to $53.00 and set a "buy" rating for the company in a report on Wednesday, January 8th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger has a consensus rating of "Moderate Buy" and a consensus target price of $56.03.

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.