Cetera Trust Company N.A Makes New Investment in Schlumberger Limited (NYSE:SLB)

Cetera Trust Company N.A acquired a new position in shares of Schlumberger Limited (NYSE:SLB) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 892 shares of the oil and gas company’s stock, valued at approximately $46,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BluePath Capital Management LLC acquired a new stake in Schlumberger during the 3rd quarter worth about $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in Schlumberger during the 4th quarter valued at about $26,000. MCF Advisors LLC grew its stake in Schlumberger by 1,355.9% during the 3rd quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 461 shares in the last quarter. Janiczek Wealth Management LLC grew its stake in Schlumberger by 1,180.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 602 shares in the last quarter. Finally, Pinnacle Bancorp Inc. grew its stake in Schlumberger by 64.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 292 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Down 0.7 %

Shares of SLB stock opened at $49.52 on Tuesday. Schlumberger Limited has a 12 month low of $42.73 and a 12 month high of $62.12. The firm has a market cap of $70.68 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. The stock has a 50 day moving average of $51.64 and a 200-day moving average of $52.32. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. During the same period in the previous year, the company earned $0.63 earnings per share. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities analysts predict that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.22%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger’s dividend payout ratio is presently 36.54%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 target price on shares of Schlumberger in a research note on Monday. TD Cowen lowered their price target on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday. Bank of America lowered their price target on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Monday. Finally, Wells Fargo & Company boosted their price target on Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.67.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the transaction, the chief financial officer now owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,621 shares of company stock worth $6,691,623. 0.26% of the stock is owned by corporate insiders.

Schlumberger Company 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.