Cutler Capital Management LLC Purchases Shares of 8,900 Schlumberger Limited (NYSE:SLB)

Cutler Capital Management LLC purchased a new stake in Schlumberger Limited (NYSE:SLB) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 8,900 shares of the oil and gas company’s stock, valued at approximately $341,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. IHT Wealth Management LLC boosted its position in Schlumberger by 6.5% during the 3rd quarter. IHT Wealth Management LLC now owns 6,416 shares of the oil and gas company’s stock worth $270,000 after purchasing an additional 394 shares during the period. EP Wealth Advisors LLC boosted its position in shares of Schlumberger by 323.2% in the third quarter. EP Wealth Advisors LLC now owns 29,236 shares of the oil and gas company’s stock worth $1,226,000 after buying an additional 22,328 shares during the period. Orion Portfolio Solutions LLC raised its holdings in shares of Schlumberger by 1.0% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 72,661 shares of the oil and gas company’s stock valued at $3,048,000 after buying an additional 721 shares during the period. MML Investors Services LLC raised its stake in shares of Schlumberger by 21.0% during the third quarter. MML Investors Services LLC now owns 181,655 shares of the oil and gas company’s stock valued at $7,620,000 after purchasing an additional 31,551 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Schlumberger during the 3rd quarter valued at $232,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Schlumberger

In other news, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value of $1,104,430.80. Following the transaction, the insider now owns 53,584 shares of the company’s stock, valued at $2,192,657.28. This trade represents a 33.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the firm’s 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 in the company, valued at $1,311,990.68. The trade was a 44.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 315,905 shares of company stock worth $13,609,283 over the last ninety days. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $31.98 on Wednesday. The stock has a market cap of $43.48 billion, a PE ratio of 10.28, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. Schlumberger Limited has a 12 month low of $30.75 and a 12 month high of $54.63. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The business has a fifty day simple moving average of $40.47 and a 200-day simple moving average of $41.24.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th were given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.57%. 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. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

Analyst Ratings Changes

SLB has been the topic of a number of recent analyst reports. BMO Capital Markets cut their target price on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Citigroup boosted their target price on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Barclays cut their target price on shares of Schlumberger from $54.00 to $53.00 and set an “overweight” rating on the stock in a research note on Monday, March 31st. TD Cowen increased their target price on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, Wells Fargo & Company raised shares of Schlumberger from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $46.00 to $44.00 in a research report on Tuesday. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $54.68.

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.