Summit Financial LLC Increases Stake in Schlumberger Limited (NYSE:SLB)

Summit Financial LLC raised its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 52.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,723 shares of the oil and gas company's stock after purchasing an additional 10,173 shares during the quarter. Summit Financial LLC's holdings in Schlumberger were worth $1,147,000 as of its most recent SEC filing.

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

Insider Activity at Schlumberger

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the company's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares of the company's stock, valued at $496,808. This represents a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the transaction, the executive vice president now directly owns 184,626 shares in the company, valued at approximately $8,140,160.34. This represents a 40.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 315,905 shares of company stock valued at $13,609,283 over the last 90 days. 0.26% of the stock is owned by insiders.

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Analyst Ratings Changes

A number of equities research analysts have issued reports on SLB shares. Stifel Nicolaus reduced their price objective on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a research report on Monday, December 23rd. Citigroup increased their price target on Schlumberger from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Barclays lowered their target price on Schlumberger from $54.00 to $53.00 and set an "overweight" rating on the stock in a research note on Monday. JPMorgan Chase & Co. increased their price target 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. Finally, Wells Fargo & Company lowered their price objective on shares of Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Tuesday, December 17th. Six investment analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $55.69.

Schlumberger Price Performance

NYSE SLB traded down $4.45 during trading on Friday, reaching $34.77. The company's stock had a trading volume of 49,170,861 shares, compared to its average volume of 12,475,812. The firm has a fifty day moving average of $41.18 and a 200 day moving average of $41.49. Schlumberger Limited has a one year low of $34.05 and a one year high of $55.65. The stock has a market capitalization of $47.28 billion, a PE ratio of 11.18, a P/E/G ratio of 10.10 and a beta of 1.11. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. During the same period last year, the firm posted $0.86 earnings per share. Schlumberger's quarterly revenue was up 3.3% on a year-over-year basis. Analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th were given a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 3.28%. Schlumberger's payout ratio is 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.