Great Lakes Advisors LLC Has $97.71 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Great Lakes Advisors LLC raised its holdings in Schlumberger Limited (NYSE:SLB) by 3.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,548,457 shares of the oil and gas company’s stock after acquiring an additional 90,836 shares during the quarter. Great Lakes Advisors LLC owned about 0.18% of Schlumberger worth $97,708,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. EverSource Wealth Advisors LLC lifted its stake in shares of Schlumberger by 14.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 4,245 shares of the oil and gas company’s stock worth $163,000 after buying an additional 522 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in Schlumberger by 4.7% during the fourth quarter. Sequoia Financial Advisors LLC now owns 496,984 shares of the oil and gas company’s stock worth $19,054,000 after acquiring an additional 22,147 shares during the period. Inspire Advisors LLC increased its position in Schlumberger by 8.2% during the fourth quarter. Inspire Advisors LLC now owns 13,711 shares of the oil and gas company’s stock worth $526,000 after acquiring an additional 1,036 shares during the period. Miller Financial Services LLC bought a new position in Schlumberger during the fourth quarter worth $375,000. Finally, Sage Mountain Advisors LLC increased its position in Schlumberger by 18.6% during the fourth quarter. Sage Mountain Advisors LLC now owns 8,600 shares of the oil and gas company’s stock worth $330,000 after acquiring an additional 1,347 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on SLB. Stifel Nicolaus dropped their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Wells Fargo & Company lowered their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. JPMorgan Chase & Co. boosted their price target on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Finally, Citigroup boosted their price target on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Six 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 company’s stock. According to MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $55.81.

Insider Buying and Selling

In related news, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gavin Rennick sold 26,990 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the transaction, the insider now directly owns 53,584 shares of the company’s stock, valued at $2,192,657.28. This represents a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 290,772 shares of company stock valued at $12,546,660. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Performance

Shares of NYSE:SLB opened at $40.09 on Wednesday. The company has a market capitalization of $54.51 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 10.10 and a beta of 1.47. The firm’s 50 day simple moving average is $40.83 and its 200 day simple moving average is $41.57. 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 Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69.

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. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.86 EPS. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 2.84%. 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 is presently 36.66%.

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.