Los Angeles Capital Management LLC Buys 48,417 Shares of Schlumberger Limited (NYSE:SLB)

Los Angeles Capital Management LLC increased its stake in shares of Schlumberger Limited (NYSE:SLB) by 9.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 578,170 shares of the oil and gas company’s stock after purchasing an additional 48,417 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Schlumberger were worth $30,088,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. BluePath Capital Management LLC bought a new position in Schlumberger in the third quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in Schlumberger in the fourth quarter valued at approximately $26,000. Janiczek Wealth Management LLC lifted its holdings in Schlumberger by 1,180.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 602 shares during the period. Pinnacle Bancorp Inc. boosted its stake in Schlumberger by 64.3% in the fourth quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 292 shares during the last quarter. Finally, Motco raised its position in shares of Schlumberger by 52.7% during the 3rd quarter. Motco now owns 823 shares of the oil and gas company’s stock valued at $48,000 after acquiring an additional 284 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SLB shares. BMO Capital Markets cut their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Bank of America decreased their price target on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday, April 22nd. The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Morgan Stanley reiterated an “overweight” rating and set a $65.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. Finally, Wells Fargo & Company cut Schlumberger from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $68.00 to $53.00 in a research note on Monday. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.72.

Schlumberger Stock Performance

Shares of SLB stock traded up $0.08 on Friday, reaching $47.66. The stock had a trading volume of 10,999,773 shares, compared to its average volume of 11,168,643. The firm’s 50-day moving average is $51.66 and its two-hundred day moving average is $51.87. The firm has a market capitalization of $68.12 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 0.91 and a beta of 1.64. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 12 month low of $42.73 and a 12 month high of $62.12.

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

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.31%. Schlumberger’s payout ratio is presently 36.54%.

Insider Buying and Selling at Schlumberger

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

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.