Cornerstone Wealth Management LLC Buys Shares of 13,813 Schlumberger Limited (NYSE:SLB)

Cornerstone Wealth Management LLC purchased a new position in Schlumberger Limited (NYSE:SLB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 13,813 shares of the oil and gas company’s stock, valued at approximately $530,000.

Several other hedge funds have also recently made changes to their positions in SLB. AQR Capital Management LLC raised its stake in Schlumberger by 26.4% during the 2nd quarter. AQR Capital Management LLC now owns 557,533 shares of the oil and gas company’s stock valued at $26,210,000 after buying an additional 116,284 shares during the last quarter. APG Asset Management N.V. increased its position in Schlumberger by 8.4% during the second quarter. APG Asset Management N.V. now owns 150,796 shares of the oil and gas company’s stock valued at $6,638,000 after acquiring an additional 11,735 shares during the last quarter. Daymark Wealth Partners LLC boosted its position in Schlumberger by 5.5% in the second quarter. Daymark Wealth Partners LLC now owns 14,479 shares of the oil and gas company’s stock worth $683,000 after purchasing an additional 753 shares during the last quarter. Lighthouse Investment Partners LLC bought a new stake in shares of Schlumberger during the 2nd quarter valued at about $1,180,000. Finally, Legal & General Group Plc increased its position in shares of Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the sale, the vice president now directly owns 11,240 shares in the company, valued at $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the transaction, the director now owns 49,595 shares in the company, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,258 shares of company stock valued at $8,732,604 in the last three months. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 0.6 %

Shares of SLB stock opened at $42.30 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $59.25 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 9.98 and a beta of 1.52. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The stock’s 50-day moving average price is $40.74 and its 200-day moving average price is $42.75.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping 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 $9,241,140 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS. Equities research analysts predict that Schlumberger Limited will post 3.34 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed 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. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.70%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research reports. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Susquehanna cut their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Jefferies Financial Group decreased their target price on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Stifel Nicolaus cut their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Finally, Barclays decreased their price objective on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

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.