BigSur Wealth Management LLC Takes Position in Schlumberger Limited (NYSE:SLB)

BigSur Wealth Management LLC bought a new position in shares of Schlumberger Limited (NYSE:SLB) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 44,920 shares of the oil and gas company’s stock, valued at approximately $1,722,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Teachers Retirement System of The State of Kentucky boosted its holdings in shares of Schlumberger by 25.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after buying an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in Schlumberger by 27.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after acquiring an additional 16,350 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Schlumberger by 8.7% in the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after purchasing an additional 65,318 shares during the period. Concurrent Investment Advisors LLC increased its stake in Schlumberger by 269.1% in the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after purchasing an additional 14,376 shares in the last quarter. Finally, Public Sector Pension Investment Board boosted its position in shares of Schlumberger by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after purchasing an additional 11,813 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the business’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 sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on SLB. Citigroup dropped their price target on Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. BMO Capital Markets reduced their price target on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday. Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $56.03.

Schlumberger Stock Performance

NYSE SLB opened at $43.58 on Monday. The company has a market capitalization of $61.54 billion, a PE ratio of 14.01, a price-to-earnings-growth 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 Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a 50-day simple moving average of $40.86 and a 200 day simple moving average of $42.87.

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

Schlumberger Increases Dividend

The company also recently announced 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 of this dividend is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.62%. Schlumberger’s payout ratio is presently 35.37%.

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.