Pinnacle Associates Ltd. lowered its holdings in shares of Schlumberger Limited (NYSE:SLB – Get Rating) by 12.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,806 shares of the oil and gas company’s stock after selling 4,112 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Schlumberger were worth $1,413,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of SLB. Alpha Cubed Investments LLC lifted its holdings in Schlumberger by 5.2% during the 4th quarter. Alpha Cubed Investments LLC now owns 184,337 shares of the oil and gas company’s stock valued at $9,855,000 after buying an additional 9,039 shares in the last quarter. First American Trust FSB raised its stake in shares of Schlumberger by 0.7% during the fourth quarter. First American Trust FSB now owns 106,750 shares of the oil and gas company’s stock valued at $5,707,000 after acquiring an additional 737 shares in the last quarter. Sigma Planning Corp increased its holdings in Schlumberger by 59.3% during the 4th quarter. Sigma Planning Corp now owns 32,351 shares of the oil and gas company’s stock worth $1,730,000 after purchasing an additional 12,046 shares during the period. Aaron Wealth Advisors LLC increased its stake in shares of Schlumberger by 0.7% during the fourth quarter. Aaron Wealth Advisors LLC now owns 42,479 shares of the oil and gas company’s stock valued at $2,271,000 after buying an additional 294 shares during the period. Finally, LCM Capital Management Inc purchased a new stake in Schlumberger in the fourth quarter worth about $214,000. Institutional investors own 80.22% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Schlumberger from $58.00 to $65.00 and gave the stock a “buy” rating in a research note on Monday, January 30th. Wolfe Research lowered shares of Schlumberger from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 12th. Susquehanna dropped their target price on Schlumberger from $68.00 to $65.00 in a research note on Monday. StockNews.com began coverage on Schlumberger in a research report on Thursday, March 16th. They set a “hold” rating for the company. Finally, Citigroup raised their price objective on Schlumberger from $62.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, January 24th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.13.
Insiders Place Their Bets
Schlumberger Trading Down 2.1 %
Shares of Schlumberger stock opened at $49.62 on Friday. Schlumberger Limited has a fifty-two week low of $30.65 and a fifty-two week high of $62.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.92 and a current ratio of 1.25. The company has a market cap of $70.87 billion, a P/E ratio of 20.68, a price-to-earnings-growth ratio of 0.44 and a beta of 1.76. The firm has a 50-day simple moving average of $51.97 and a two-hundred day simple moving average of $50.45.
Schlumberger (NYSE:SLB – Get Rating) last issued its quarterly earnings results on Friday, January 20th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $7.88 billion for the quarter, compared to the consensus estimate of $7.80 billion. Schlumberger had a return on equity of 18.51% and a net margin of 12.25%. Schlumberger’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.41 earnings per share. As a group, equities analysts predict that Schlumberger Limited will post 3.02 earnings per share for the current fiscal year.
Schlumberger Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, April 6th. Investors of record on Wednesday, February 8th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Tuesday, February 7th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.18. Schlumberger’s payout ratio is presently 41.67%.
About Schlumberger
Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s digital solutions and data products with its Asset Performance Solutions (APS).
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