Schlumberger Limited (NYSE:SLB) Shares Acquired by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 89.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,892 shares of the oil and gas company’s stock after purchasing an additional 7,990 shares during the period. Flagship Harbor Advisors LLC’s holdings in Schlumberger were worth $648,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of Schlumberger by 0.6% during the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after acquiring an additional 528,279 shares during the last quarter. Geode Capital Management LLC increased its holdings in Schlumberger by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock worth $1,195,290,000 after purchasing an additional 239,966 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after purchasing an additional 1,916,851 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Schlumberger by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock worth $335,214,000 after buying an additional 31,718 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Schlumberger by 8.0% in the third quarter. Principal Financial Group Inc. now owns 4,487,067 shares of the oil and gas company’s stock worth $188,232,000 after buying an additional 332,500 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 0.7 %

SLB stock opened at $42.55 on Tuesday. The firm’s 50-day moving average is $40.74 and its two-hundred day moving average is $42.72. The company has a market capitalization of $60.08 billion, a price-to-earnings ratio of 13.68, a price-to-earnings-growth ratio of 9.98 and a beta of 1.52. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9,241,140 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts forecast that Schlumberger Limited will post 3.34 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is presently 35.37%.

Insiders Place Their Bets

In other Schlumberger news, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the transaction, the insider now owns 235,024 shares of the company’s stock, valued at $10,331,655.04. The trade was a 15.52 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,258 shares of company stock worth $8,732,604. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on SLB shares. Jefferies Financial Group decreased their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. BMO Capital Markets lowered their price objective on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Stifel Nicolaus reduced their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Citigroup boosted their price target on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, Wells Fargo & Company dropped their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and an average 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.