8,436 Shares in Schlumberger Limited (NYSE:SLB) Acquired by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC acquired a new stake in shares of Schlumberger Limited (NYSE:SLB) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 8,436 shares of the oil and gas company’s stock, valued at approximately $323,000.

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

Insider Activity

In other news, insider Aparna Raman sold 25,133 shares of the business’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the transaction, the insider now directly owns 31,031 shares of the company’s stock, valued at approximately $1,311,990.68. The trade was a 44.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gavin Rennick sold 26,990 shares of the firm’s stock in a transaction dated 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 sale, the insider now directly owns 53,584 shares in the company, valued at approximately $2,192,657.28. The trade was a 33.50 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SLB. Citigroup raised their target price on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Wells Fargo & Company upgraded shares of Schlumberger from an “equal weight” rating to an “overweight” rating and reduced their target price for the stock from $46.00 to $44.00 in a report on Tuesday, April 8th. Susquehanna dropped their price target on Schlumberger from $48.00 to $46.00 and set a “positive” rating for the company in a research report on Monday, April 28th. Jefferies Financial Group decreased their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $53.32.

Schlumberger Stock Performance

Shares of NYSE:SLB opened at $34.51 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The firm has a market cap of $46.94 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06. The firm’s 50 day simple moving average is $37.18 and its 200-day simple moving average is $39.76. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same period last year, the firm earned $0.75 earnings per share. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, equities analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger’s dividend payout ratio (DPR) is 38.64%.

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.