Silver Oak Securities Incorporated Acquires 3,224 Shares of Schlumberger Limited (NYSE:SLB)

Silver Oak Securities Incorporated grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 122.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,857 shares of the oil and gas company’s stock after buying an additional 3,224 shares during the quarter. Silver Oak Securities Incorporated’s holdings in Schlumberger were worth $305,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Little House Capital LLC raised its holdings in shares of Schlumberger by 1.4% in the 4th quarter. Little House Capital LLC now owns 18,239 shares of the oil and gas company’s stock valued at $949,000 after purchasing an additional 251 shares during the period. Paradigm Financial Partners LLC bought a new stake in shares of Schlumberger in the 4th quarter valued at about $935,000. Stonebrook Private Inc. bought a new stake in shares of Schlumberger in the 4th quarter valued at about $222,000. Intact Investment Management Inc. bought a new stake in shares of Schlumberger in the 4th quarter valued at about $3,638,000. Finally, Private Wealth Partners LLC raised its holdings in shares of Schlumberger by 23.8% in the 4th quarter. Private Wealth Partners LLC now owns 5,205 shares of the oil and gas company’s stock valued at $271,000 after purchasing an additional 1,000 shares during the period. 81.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on SLB. Stifel Nicolaus reaffirmed a “buy” rating and issued a $64.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Bank of America lowered their price target on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Susquehanna reissued a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a report on Monday, April 22nd. BMO Capital Markets lowered their price target on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $68.72.

Insider Activity at Schlumberger

In related news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total value of $304,000.00. Following the completion of the transaction, the chief financial officer now owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Schlumberger Stock Performance

NYSE SLB opened at $47.16 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $67.41 billion, a price-to-earnings ratio of 15.67, a P/E/G ratio of 0.91 and a beta of 1.64. The firm’s 50 day simple moving average is $51.69 and its 200 day simple moving average is $51.90. Schlumberger Limited has a 1 year low of $42.73 and a 1 year high of $62.12.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. As a group, research analysts expect that Schlumberger Limited will post 3.51 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, July 11th. Investors of record on Wednesday, June 5th will be paid a $0.275 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.33%. Schlumberger’s dividend payout ratio is presently 36.54%.

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.