Romano Brothers AND Company Grows Stake in Schlumberger Limited (NYSE:SLB)

Romano Brothers AND Company boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 22.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 75,750 shares of the oil and gas company’s stock after purchasing an additional 14,025 shares during the quarter. Romano Brothers AND Company’s holdings in Schlumberger were worth $2,904,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. 1832 Asset Management L.P. acquired a new stake in Schlumberger in the 2nd quarter valued at about $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Schlumberger by 20.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after purchasing an additional 1,916,851 shares during the last quarter. Legal & General Group Plc grew its position in shares of Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares during the last quarter. Merewether Investment Management LP acquired a new position in shares of Schlumberger during the 2nd quarter worth approximately $42,957,000. Finally, Weiss Asset Management LP purchased a new stake in Schlumberger in the 3rd quarter valued at approximately $37,322,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Stock Performance

Schlumberger stock opened at $43.58 on Friday. The company has a market cap of $61.54 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The stock’s 50-day moving average is $40.86 and its 200-day moving average is $42.90.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9,241,140 billion. During the same quarter last year, the firm posted $0.86 earnings per share. Schlumberger’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently declared 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 2.62%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio is 35.37%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SLB. TD Cowen dropped their price target on Schlumberger from $65.00 to $53.00 and set a “buy” rating for the company in a research report on Wednesday, January 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research note on Thursday, October 3rd. Citigroup decreased their price target on shares of Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Atb Cap Markets lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Jefferies Financial Group decreased their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $56.03.

Schlumberger 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.