Golden State Wealth Management LLC Acquires Shares of 880 Schlumberger Limited (NYSE:SLB)

Golden State Wealth Management LLC bought a new position in shares of Schlumberger Limited (NYSE:SLB) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 880 shares of the oil and gas company’s stock, valued at approximately $34,000.

Other institutional investors have also made changes to their positions in the company. ORG Partners LLC increased its holdings in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares during the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger during the 3rd quarter worth about $29,000. YANKCOM Partnership acquired a new position in Schlumberger in the 4th quarter valued at about $31,000. Ashton Thomas Securities LLC bought a new position in Schlumberger in the 3rd quarter valued at about $37,000. Finally, Hager Investment Management Services LLC acquired a new stake in Schlumberger during the fourth quarter worth approximately $38,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Trading Up 1.3 %

SLB opened at $41.75 on Wednesday. The company has a market cap of $58.49 billion, a P/E ratio of 13.43, a PEG ratio of 9.49 and a beta of 1.51. 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 company’s 50 day moving average is $40.12 and its 200-day moving average is $42.14. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business earned $0.86 EPS. Equities research analysts predict that Schlumberger Limited will post 3.38 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 paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SLB shares. Wells Fargo & Company lowered their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Evercore ISI reissued an “in-line” rating and set a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. JPMorgan Chase & Co. upped their price target on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Finally, Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.81.

Insider Buying and Selling at Schlumberger

In related news, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the transaction, the vice president now directly owns 11,240 shares of the company’s stock, valued at approximately $496,808. This represents a 38.38 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the sale, the executive vice president now directly owns 210,502 shares of the company’s stock, valued at $8,723,202.88. The trade was a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 263,782 shares of company stock valued at $11,442,229. 0.26% of the stock is currently owned by insiders.

Schlumberger 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.