Wedbush Securities Inc. Buys 4,667 Shares of Schlumberger Limited (NYSE:SLB)

Wedbush Securities Inc. raised its position in shares of Schlumberger Limited (NYSE:SLB) by 17.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,118 shares of the oil and gas company’s stock after acquiring an additional 4,667 shares during the period. Wedbush Securities Inc.’s holdings in Schlumberger were worth $1,231,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SLB. Teachers Retirement System of The State of Kentucky raised its stake in 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 worth $31,961,000 after purchasing an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of 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 buying an additional 16,350 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Schlumberger by 4.8% in the fourth quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company’s stock valued at $1,146,195,000 after buying an additional 1,377,134 shares during the period. Bryn Mawr Capital Management LLC grew its position in Schlumberger by 502.6% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company’s stock worth $7,592,000 after buying an additional 165,162 shares in the last quarter. Finally, Narwhal Capital Management increased its stake in Schlumberger by 225.5% during the 4th quarter. Narwhal Capital Management now owns 74,645 shares of the oil and gas company’s stock worth $2,862,000 after acquiring an additional 51,715 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on SLB shares. Citigroup upped their target price on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Jefferies Financial Group cut 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 Thursday, March 27th. Barclays decreased their target price on shares of Schlumberger from $54.00 to $53.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. JPMorgan Chase & Co. upped their price target on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $54.79.

Schlumberger Stock Down 11.3 %

NYSE:SLB opened at $34.77 on Monday. Schlumberger Limited has a one year low of $32.37 and a one year high of $55.65. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company has a market cap 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 firm’s 50 day simple moving average is $41.02 and its 200 day simple moving average is $41.45.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 earnings per share. On average, research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th were given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.28%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Insider Buying and Selling

In related news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the transaction, the insider now owns 31,031 shares of the company’s stock, valued at $1,311,990.68. This trade represents a 44.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the sale, the vice president now directly owns 11,240 shares in the company, valued at $496,808. This trade represents a 38.38 % 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 ninety days. 0.26% of the stock is owned by company insiders.

Schlumberger 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.