Van Cleef Asset Management Inc Boosts Stock Position in Schlumberger Limited (NYSE:SLB)

Van Cleef Asset Management Inc lifted its position in shares of Schlumberger Limited (NYSE:SLB) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 91,140 shares of the oil and gas company’s stock after buying an additional 4,575 shares during the period. Van Cleef Asset Management Inc’s holdings in Schlumberger were worth $3,494,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Fort Sheridan Advisors LLC lifted its holdings in shares of Schlumberger by 12.9% in the 4th quarter. Fort Sheridan Advisors LLC now owns 5,683 shares of the oil and gas company’s stock worth $218,000 after acquiring an additional 650 shares during the last quarter. Schulhoff & Co. Inc. lifted its stake in Schlumberger by 8.7% in the fourth quarter. Schulhoff & Co. Inc. now owns 6,240 shares of the oil and gas company’s stock worth $239,000 after purchasing an additional 500 shares during the last quarter. QRG Capital Management Inc. boosted its position in Schlumberger by 30.0% during the fourth quarter. QRG Capital Management Inc. now owns 57,940 shares of the oil and gas company’s stock valued at $2,221,000 after buying an additional 13,358 shares during the period. Consilium Wealth Advisory LLC grew its stake in shares of Schlumberger by 60.3% during the fourth quarter. Consilium Wealth Advisory LLC now owns 26,132 shares of the oil and gas company’s stock valued at $1,002,000 after buying an additional 9,830 shares during the last quarter. Finally, Versor Investments LP purchased a new position in shares of Schlumberger in the fourth quarter worth about $859,000. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Gavin Rennick sold 26,990 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the sale, the insider now directly owns 53,584 shares in the company, valued at approximately $2,192,657.28. This trade represents a 33.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the transaction, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 290,772 shares of company stock worth $12,546,660. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on SLB shares. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Jefferies Financial Group cut their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Wells Fargo & Company lowered their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, Barclays lowered their price objective on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Stock Up 0.6 %

NYSE:SLB opened at $40.86 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm’s 50-day moving average price is $40.41 and its 200-day moving average price is $41.84. The company has a market capitalization of $55.56 billion, a PE ratio of 13.14, a P/E/G ratio of 10.10 and a beta of 1.51. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data 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 net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter in the prior year, the company earned $0.86 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. On average, equities analysts predict 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. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

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.