Shelton Wealth Management LLC Buys Shares of 27,474 Schlumberger Limited (NYSE:SLB)

Shelton Wealth Management LLC purchased a new stake in shares of Schlumberger Limited (NYSE:SLB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 27,474 shares of the oil and gas company’s stock, valued at approximately $1,053,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. ORG Partners LLC raised its stake in shares of Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Schlumberger in the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new position in Schlumberger during the third quarter valued at approximately $37,000. DiNuzzo Private Wealth Inc. increased its holdings in Schlumberger by 1,068.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 876 shares during the period. Finally, J. Stern & Co. LLP purchased a new position in shares of Schlumberger during the 3rd quarter valued at $47,000. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 6.1 %

NYSE SLB opened at $43.58 on Friday. The stock has a 50 day moving average price of $40.85 and a 200-day moving average price of $42.92. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The company has a market capitalization of $61.54 billion, a P/E ratio of 14.01, a P/E/G ratio of 1.35 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9,241,140 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities analysts predict that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 2.62%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is currently 35.37%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SLB shares. Evercore ISI reaffirmed an “in-line” rating and issued a $44.00 target price (down from $62.00) on shares of Schlumberger in a research note on Wednesday. Barclays lowered their price objective on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Jefferies Financial Group lowered their price target on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. BMO Capital Markets reduced their price objective on Schlumberger from $53.00 to $48.00 in a research note on Thursday. Finally, Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $56.03.

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.