City Center Advisors LLC Raises Position in Schlumberger Limited (NYSE:SLB)

City Center Advisors LLC grew its position in shares of Schlumberger Limited (NYSE:SLB) by 22.4% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,359 shares of the oil and gas company’s stock after acquiring an additional 1,899 shares during the period. City Center Advisors LLC’s holdings in Schlumberger were worth $397,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SLB. Clark & Stuart Inc purchased a new stake in Schlumberger in the fourth quarter worth $3,772,000. Czech National Bank boosted its holdings in shares of Schlumberger by 5.8% during the 4th quarter. Czech National Bank now owns 306,183 shares of the oil and gas company’s stock valued at $11,739,000 after buying an additional 16,914 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Schlumberger by 2.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 32,238 shares of the oil and gas company’s stock worth $1,236,000 after buying an additional 790 shares during the period. Hilltop National Bank increased its stake in shares of Schlumberger by 70.2% in the 4th quarter. Hilltop National Bank now owns 7,522 shares of the oil and gas company’s stock worth $288,000 after acquiring an additional 3,102 shares in the last quarter. Finally, ST Germain D J Co. Inc. increased its stake in shares of Schlumberger by 0.9% in the 4th quarter. ST Germain D J Co. Inc. now owns 706,511 shares of the oil and gas company’s stock worth $27,088,000 after acquiring an additional 6,505 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Susquehanna dropped their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Barclays dropped their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Evercore ISI dropped their target price on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Finally, Jefferies Financial Group cut their target price on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $57.58.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.4 %

Shares of Schlumberger stock opened at $38.66 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The company has a market cap of $54.59 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52. The company’s 50 day moving average is $40.97 and its 200 day moving average is $43.05.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same period last year, the business posted $0.78 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Research analysts anticipate that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th were paid a dividend of $0.275 per share. The ex-dividend date was Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.85%. Schlumberger’s dividend payout ratio is currently 35.37%.

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.