River Global Investors LLP Makes New Investment in Schlumberger Limited (NYSE:SLB)

River Global Investors LLP purchased a new stake in Schlumberger Limited (NYSE:SLB) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 85,000 shares of the oil and gas company’s stock, valued at approximately $4,423,000. Schlumberger accounts for approximately 0.8% of River Global Investors LLP’s holdings, making the stock its 29th biggest position.

Other hedge funds also recently made changes to their positions in the company. BluePath Capital Management LLC purchased a new position in Schlumberger during the third quarter worth about $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in Schlumberger during the fourth quarter worth about $26,000. Janiczek Wealth Management LLC lifted its stake in Schlumberger by 1,180.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 602 shares during the last quarter. Pinnacle Bancorp Inc. lifted its stake in Schlumberger by 64.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 292 shares during the last quarter. Finally, Legacy Bridge LLC lifted its stake in Schlumberger by 39.4% during the fourth quarter. Legacy Bridge LLC now owns 853 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 241 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Stock Up 0.2 %

Shares of SLB stock traded up $0.08 during midday trading on Friday, reaching $47.66. 11,007,407 shares of the stock were exchanged, compared to its average volume of 9,961,223. Schlumberger Limited has a 1 year low of $42.73 and a 1 year high of $62.12. The company’s 50 day moving average is $51.63 and its two-hundred day moving average is $51.79. 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 cap of $68.12 billion, a PE ratio of 15.83, a price-to-earnings-growth ratio of 0.92 and a beta of 1.64.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter in the prior year, the business earned $0.63 EPS. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities research analysts predict that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. 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 dividend on an annualized basis and a dividend yield of 2.31%. Schlumberger’s dividend payout ratio is 36.54%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SLB shares. TD Cowen dropped their price target on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $64.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. Wells Fargo & Company lowered Schlumberger from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $68.00 to $53.00 in a research note on Monday, April 29th. Susquehanna reaffirmed a “positive” rating and set a $77.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. Finally, Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.72.

Insiders Place Their Bets

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now owns 242,932 shares in the company, valued at approximately $11,816,212.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the sale, the chief financial officer now owns 242,932 shares in the company, valued at approximately $11,816,212.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.