Wealthsource Partners LLC Purchases 300 Shares of Schlumberger Limited (NYSE:SLB)

Wealthsource Partners LLC grew its position in shares of Schlumberger Limited (NYSE:SLB – Get Rating) by 3.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 9,518 shares of the oil and gas company’s stock after acquiring an additional 300 shares during the quarter. Wealthsource Partners LLC’s holdings in Schlumberger were worth $342,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new stake in Schlumberger during the first quarter worth about $25,000. Clearview Wealth Advisors LLC lifted its stake in Schlumberger by 1,346.0% during the third quarter. Clearview Wealth Advisors LLC now owns 723 shares of the oil and gas company’s stock worth $26,000 after purchasing an additional 673 shares during the last quarter. James Investment Research Inc. bought a new stake in Schlumberger during the third quarter worth about $28,000. SRS Capital Advisors Inc. lifted its stake in shares of Schlumberger by 216.0% in the 2nd quarter. SRS Capital Advisors Inc. now owns 809 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 553 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV lifted its stake in shares of Schlumberger by 59.7% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 928 shares of the oil and gas company’s stock valued at $33,000 after acquiring an additional 347 shares during the last quarter. Institutional investors own 80.22% of the company’s stock.

Schlumberger Stock Up 1.1 %

SLB stock opened at $49.36 on Wednesday. Schlumberger Limited has a fifty-two week low of $30.65 and a fifty-two week high of $62.78. The business’s 50 day moving average price is $54.87 and its two-hundred day moving average price is $49.52. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.92 and a current ratio of 1.25. The company has a market capitalization of $70.50 billion, a price-to-earnings ratio of 20.57, a price-to-earnings-growth ratio of 0.44 and a beta of 1.77.

Schlumberger (NYSE:SLB – Get Rating) last posted its earnings results on Friday, January 20th. The oil and gas company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. Schlumberger had a return on equity of 18.51% and a net margin of 12.25%. The firm had revenue of $7.88 billion for the quarter, compared to the consensus estimate of $7.80 billion. During the same quarter in the prior year, the business earned $0.41 EPS. The business’s revenue for the quarter was up 26.6% on a year-over-year basis. As a group, analysts forecast that Schlumberger Limited will post 3.02 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 6th. Shareholders of record on Wednesday, February 8th will be issued a dividend of $0.25 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend is Tuesday, February 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.03%. Schlumberger’s dividend payout ratio is 41.67%.

Insiders Place Their Bets

In other Schlumberger news, VP Kevin Fyfe sold 36,850 shares of the company’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $57.50, for a total transaction of $2,118,875.00. Following the transaction, the vice president now owns 32,105 shares in the company, valued at approximately $1,846,037.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Abdellah Merad sold 70,000 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $57.20, for a total value of $4,004,000.00. Following the sale, the executive vice president now directly owns 204,357 shares of the company’s stock, valued at approximately $11,689,220.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Kevin Fyfe sold 36,850 shares of the business’s stock in a transaction that occurred on Monday, January 23rd. The stock was sold at an average price of $57.50, for a total value of $2,118,875.00. Following the completion of the sale, the vice president now directly owns 32,105 shares in the company, valued at $1,846,037.50. The disclosure for this sale can be found here. In the last quarter, insiders have sold 269,696 shares of company stock worth $15,227,195. Company insiders own 0.23% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on SLB shares. Barclays boosted their target price on Schlumberger from $62.00 to $74.00 and gave the company an “overweight” rating in a research note on Wednesday, January 25th. Raymond James started coverage on Schlumberger in a research note on Friday, December 9th. They issued an “outperform” rating and a $65.00 target price for the company. Citigroup boosted their target price on Schlumberger from $62.00 to $67.00 and gave the company a “buy” rating in a research note on Tuesday, January 24th. Wolfe Research lowered Schlumberger from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 12th. Finally, Benchmark started coverage on Schlumberger in a research note on Thursday, January 19th. They issued a “buy” rating and a $65.00 target price for the company. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $62.38.

Schlumberger Company Profile

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Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s digital solutions and data products with its Asset Performance Solutions (APS).