Edgemoor Investment Advisors Inc. Has $1.97 Million Holdings in Schlumberger Limited (NYSE:SLB)

Edgemoor Investment Advisors Inc. lessened its stake in Schlumberger Limited (NYSE:SLB) by 9.0% in the 4th quarter, HoldingsChannel reports. The fund owned 51,332 shares of the oil and gas company’s stock after selling 5,061 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Schlumberger were worth $1,968,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. Prospera Private Wealth LLC acquired a new stake in Schlumberger in the 3rd quarter valued at about $29,000. YANKCOM Partnership acquired a new stake in Schlumberger in the 4th quarter valued at about $31,000. Stonebridge Financial Group LLC acquired a new stake in Schlumberger in the 4th quarter valued at about $32,000. Golden State Wealth Management LLC acquired a new stake in Schlumberger in the 4th quarter valued at about $34,000. Finally, Hager Investment Management Services LLC acquired a new stake in Schlumberger in the 4th quarter valued at about $38,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB opened at $41.10 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The firm’s 50 day moving average price is $40.95 and its two-hundred day moving average price is $41.48. The firm has a market cap of $55.89 billion, a P/E ratio of 13.21, a PEG ratio of 10.10 and a beta of 1.47.

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

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.77%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is presently 36.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. lifted their price target on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a research report on Tuesday, January 21st. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Wells Fargo & Company lowered 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 report on Tuesday, December 17th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Insider Buying and Selling at Schlumberger

In other news, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the sale, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the sale, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 290,772 shares of company stock valued at $12,546,660. 0.26% of the stock is currently owned by corporate insiders.

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.