Archer Investment Corp Has $263,000 Position in Schlumberger Limited (NYSE:SLB)

Archer Investment Corp raised its holdings in shares of Schlumberger Limited (NYSE:SLB) by 12.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 6,854 shares of the oil and gas company’s stock after acquiring an additional 762 shares during the period. Archer Investment Corp’s holdings in Schlumberger were worth $263,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in Schlumberger by 7.0% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 181,044 shares of the oil and gas company’s stock valued at $6,941,000 after purchasing an additional 11,801 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Schlumberger by 2.1% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 5,392,998 shares of the oil and gas company’s stock valued at $206,768,000 after acquiring an additional 109,652 shares during the last quarter. Tandem Financial LLC acquired a new stake in shares of Schlumberger in the 4th quarter valued at approximately $77,000. Strategic Financial Concepts LLC bought a new position in Schlumberger during the 4th quarter worth approximately $1,815,000. Finally, Oakworth Capital Inc. grew its holdings in Schlumberger by 20.0% during the fourth quarter. Oakworth Capital Inc. now owns 2,276 shares of the oil and gas company’s stock valued at $87,000 after purchasing an additional 380 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of several analyst reports. JPMorgan Chase & Co. increased their target price on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Jefferies Financial Group reduced 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. Susquehanna dropped their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, Barclays dropped their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Trading Down 1.8 %

NYSE SLB opened at $40.07 on Friday. Schlumberger Limited has a 12 month low of $36.52 and a 12 month 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. The stock has a 50 day moving average of $40.32 and a 200-day moving average of $42.36. The company has a market cap of $56.13 billion, a PE ratio of 12.88, a PEG ratio of 9.55 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion during 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%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.86 EPS. On average, equities research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.85%. Schlumberger’s payout ratio is currently 35.37%.

Insider Activity at Schlumberger

In other news, VP Ugo Prechner sold 7,000 shares of Schlumberger 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 transaction, the vice president now owns 11,240 shares in the company, valued at approximately $496,808. This trade represents a 38.38 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the transaction, the insider now owns 30,829 shares in the company, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock valued at $11,442,229 over the last quarter. 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.