US Bancorp DE Purchases 41,560 Shares of Schlumberger Limited (NYSE:SLB)

US Bancorp DE raised its position in Schlumberger Limited (NYSE:SLB) by 2.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,785,902 shares of the oil and gas company’s stock after purchasing an additional 41,560 shares during the period. US Bancorp DE’s holdings in Schlumberger were worth $68,472,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new stake in Schlumberger during the third quarter valued at $29,000. YANKCOM Partnership bought a new stake in shares of Schlumberger during the 4th quarter valued at about $31,000. Stonebridge Financial Group LLC bought a new position in shares of Schlumberger in the fourth quarter worth approximately $32,000. Golden State Wealth Management LLC purchased a new stake in Schlumberger in the fourth quarter valued at approximately $34,000. Finally, Ashton Thomas Securities LLC purchased a new position in Schlumberger in the 3rd quarter worth approximately $37,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the transaction, the executive vice president now owns 184,626 shares of the company’s stock, valued at approximately $8,140,160.34. This represents a 40.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the sale, the insider now owns 235,024 shares in the company, valued at $10,331,655.04. This represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 290,772 shares of company stock valued at $12,546,660. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

SLB has been the topic of several research reports. BMO Capital Markets lowered their price objective on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Barclays reduced their price objective on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. TD Cowen boosted their target price on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Finally, Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Trading Up 1.8 %

SLB opened at $41.63 on Friday. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. 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 business has a 50 day simple moving average of $40.51 and a two-hundred day simple moving average of $41.81. The firm has a market capitalization of $56.61 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 10.10 and a beta of 1.51.

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

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 2.74%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

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.