Stonebrook Private Inc. Purchases New Stake in Schlumberger Limited (NYSE:SLB)

Stonebrook Private Inc. acquired a new position in Schlumberger Limited (NYSE:SLB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,267 shares of the oil and gas company’s stock, valued at approximately $222,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Stonegate Investment Group LLC lifted its stake in Schlumberger by 1.7% in the third quarter. Stonegate Investment Group LLC now owns 10,864 shares of the oil and gas company’s stock valued at $633,000 after purchasing an additional 177 shares during the last quarter. CI Investments Inc. lifted its position in shares of Schlumberger by 4.9% during the 3rd quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock valued at $241,000 after buying an additional 192 shares during the last quarter. Montgomery Investment Management Inc. grew its stake in shares of Schlumberger by 1.9% during the 3rd quarter. Montgomery Investment Management Inc. now owns 10,920 shares of the oil and gas company’s stock worth $637,000 after acquiring an additional 200 shares during the period. Allworth Financial LP increased its holdings in Schlumberger by 3.8% in the 3rd quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock worth $324,000 after acquiring an additional 206 shares during the last quarter. Finally, Atria Wealth Solutions Inc. raised its stake in Schlumberger by 0.6% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 34,414 shares of the oil and gas company’s stock valued at $2,007,000 after acquiring an additional 206 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley reiterated an “overweight” rating and set a $65.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Bank of America lowered their target price on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. BMO Capital Markets reduced their price target on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Monday, April 22nd. Susquehanna reissued a “positive” rating and set a $77.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $68.72.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $49.21 on Tuesday. The stock has a market capitalization 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. The company has a fifty day moving average of $51.75 and a 200-day moving average of $52.02. Schlumberger Limited has a 52-week low of $42.73 and a 52-week high of $62.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm’s revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 EPS. Equities research analysts expect that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

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

Insider Buying and Selling at Schlumberger

In other Schlumberger 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 completion of the sale, the chief financial officer now directly owns 242,932 shares in the company, valued at $11,816,212.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the transaction, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the transaction, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 76,295 shares of company stock valued at $3,707,595. 0.26% of the stock is currently owned by company insiders.

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.