Kentucky Retirement Systems Insurance Trust Fund Boosts Stock Position in Schlumberger Limited (NYSE:SLB)

Kentucky Retirement Systems Insurance Trust Fund raised its position in shares of Schlumberger Limited (NYSE:SLB) by 10.9% during the 4th quarter, Holdings Channel reports. The firm owned 46,637 shares of the oil and gas company’s stock after buying an additional 4,594 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Schlumberger were worth $1,788,000 as of its most recent filing with the SEC.

Other large investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new stake in shares of Schlumberger in the third quarter worth about $29,000. YANKCOM Partnership purchased a new stake in shares of Schlumberger in the fourth quarter worth about $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Schlumberger in the fourth quarter worth about $32,000. Golden State Wealth Management LLC purchased a new stake in shares of Schlumberger in the fourth quarter worth about $34,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Schlumberger in the third quarter worth about $37,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Evercore ISI restated an “in-line” rating and issued a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. JPMorgan Chase & Co. upped their target price on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Citigroup upped their target price on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, BMO Capital Markets reduced their price target on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Insider Activity at Schlumberger

In related news, insider Dianne B. Ralston sold 43,161 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the transaction, the insider now directly owns 235,024 shares in the company, valued at approximately $10,331,655.04. This represents a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the transaction, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 263,782 shares of company stock valued at $11,442,229. 0.26% of the stock is currently owned by insiders.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $42.63 on Wednesday. The business has a 50 day simple moving average of $40.12 and a two-hundred day simple moving average of $41.91. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The stock has a market capitalization of $59.71 billion, a P/E ratio of 13.71, a PEG ratio of 9.90 and a beta of 1.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

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 return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter last year, the firm earned $0.86 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 2.67%. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

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.