Paladin Wealth LLC Boosts Position in Schlumberger Limited (NYSE:SLB)

Paladin Wealth LLC raised its stake in Schlumberger Limited (NYSE:SLB) by 22.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,234 shares of the oil and gas company’s stock after purchasing an additional 2,807 shares during the period. Paladin Wealth LLC’s holdings in Schlumberger were worth $584,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SLB. Eukles Asset Management boosted its holdings in shares of Schlumberger by 5.5% in the 4th quarter. Eukles Asset Management now owns 9,261 shares of the oil and gas company’s stock valued at $355,000 after buying an additional 482 shares in the last quarter. Soltis Investment Advisors LLC lifted its position in Schlumberger by 2.0% in the fourth quarter. Soltis Investment Advisors LLC now owns 18,084 shares of the oil and gas company’s stock valued at $693,000 after acquiring an additional 350 shares during the last quarter. Wingate Wealth Advisors Inc. acquired a new position in Schlumberger in the fourth quarter valued at $53,000. Savant Capital LLC grew its holdings in shares of Schlumberger by 47.0% during the fourth quarter. Savant Capital LLC now owns 57,930 shares of the oil and gas company’s stock worth $2,221,000 after purchasing an additional 18,534 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new stake in shares of Schlumberger during the fourth quarter worth about $71,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. TD Cowen upped their target price on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Citigroup increased their price objective on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Wells Fargo & Company decreased their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Finally, BMO Capital Markets dropped their price objective on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the sale, the executive vice president now directly owns 210,502 shares in the company, valued at approximately $8,723,202.88. The trade was a 22.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the transaction, the insider now owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 263,782 shares of company stock valued at $11,442,229. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 2.6 %

SLB opened at $41.19 on Tuesday. The business has a 50 day simple moving average of $40.17 and a 200-day simple moving average of $42.19. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The stock has a market capitalization of $57.71 billion, a P/E ratio of 13.25, a P/E/G ratio of 9.49 and a beta of 1.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter last year, the company earned $0.86 earnings per share. Schlumberger’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share 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 given a dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio is presently 36.66%.

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.