Stonebrook Private Inc. Makes New $222,000 Investment in Schlumberger Limited (NYSE:SLB)

Stonebrook Private Inc. purchased a new position in Schlumberger Limited (NYSE:SLB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,267 shares of the oil and gas company’s stock, valued at approximately $222,000.

Several other institutional investors have also made changes to their positions in SLB. Vanguard Group Inc. grew its stake in Schlumberger by 1.1% in the third quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock valued at $7,609,804,000 after purchasing an additional 1,412,821 shares in the last quarter. FMR LLC boosted its holdings in Schlumberger by 1.1% in the third quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock worth $1,584,099,000 after purchasing an additional 282,709 shares in the last quarter. Morgan Stanley increased its position in Schlumberger by 1.9% during the third quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock worth $920,561,000 after buying an additional 292,817 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Schlumberger by 30.5% during the 3rd quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock worth $488,020,000 after acquiring an additional 1,954,620 shares in the last quarter. Finally, Sanders Capital LLC increased its holdings in shares of Schlumberger by 34.9% during the 3rd quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock valued at $469,693,000 after acquiring an additional 2,085,506 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Up 0.0 %

Shares of NYSE SLB opened at $49.21 on Tuesday. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The company has a market cap of $70.34 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. Schlumberger Limited has a 12-month low of $42.73 and a 12-month high of $62.12. The firm’s 50-day simple moving average is $51.75 and its 200 day simple moving average is $52.02.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. Schlumberger’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.63 EPS. On average, research analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Wednesday, June 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is 36.54%.

Wall Street Analyst Weigh In

Several equities analysts have commented on SLB shares. Morgan Stanley reiterated an “overweight” rating and set a $65.00 price target on shares of Schlumberger in a report on Monday, April 22nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $64.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. HSBC restated a “buy” rating and set a $71.00 target price on shares of Schlumberger in a research note on Thursday, April 4th. Finally, TD Cowen dropped their price target on Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $68.72.

Insider Activity at Schlumberger

In other news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.64, for a total value of $304,000.00. Following the transaction, the chief financial officer now owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the transaction, the chief financial officer now owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gavin Rennick sold 20,045 shares of Schlumberger stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $48.77, for a total value of $977,594.65. Following the sale, the insider now directly owns 77,563 shares of the company’s stock, valued at $3,782,747.51. The disclosure for this sale can be found here. Insiders have sold a total of 76,295 shares of company stock worth $3,707,595 over the last 90 days. Insiders own 0.26% of the company’s stock.

About Schlumberger

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.