Reliant Investment Management LLC Purchases 810 Shares of Schlumberger Limited (NYSE:SLB)

Reliant Investment Management LLC raised its position in Schlumberger Limited (NYSE:SLB) by 0.6% during the 4th quarter, HoldingsChannel reports. The fund owned 127,143 shares of the oil and gas company’s stock after buying an additional 810 shares during the quarter. Schlumberger comprises about 2.2% of Reliant Investment Management LLC’s portfolio, making the stock its 26th largest holding. Reliant Investment Management LLC’s holdings in Schlumberger were worth $4,875,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC increased its position in shares of Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Schlumberger during the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Schlumberger during the 3rd quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. increased its position in shares of Schlumberger by 1,068.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new position in shares of Schlumberger during the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the topic of a number of recent analyst reports. Bank of America decreased their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Barclays decreased their price objective on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Susquehanna cut their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Evercore ISI restated an “in-line” rating and set a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. dropped their price objective on Schlumberger from $55.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $56.03.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger 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 sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Price Performance

Schlumberger stock opened at $43.58 on Tuesday. The stock’s 50 day moving average is $40.86 and its 200 day moving average is $42.84. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm has a market cap of $61.54 billion, a P/E ratio of 14.01, a P/E/G ratio of 3.61 and a beta of 1.52. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9,241,140 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. As a group, research analysts expect that Schlumberger Limited will post 3.29 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is presently 35.37%.

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.