HighPoint Advisor Group LLC Purchases 3,342 Shares of Schlumberger Limited (NYSE:SLB)

HighPoint Advisor Group LLC grew its position in shares of Schlumberger Limited (NYSE:SLB) by 22.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,492 shares of the oil and gas company’s stock after buying an additional 3,342 shares during the quarter. HighPoint Advisor Group LLC’s holdings in Schlumberger were worth $746,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. YANKCOM Partnership bought a new position in Schlumberger in the 4th quarter valued at $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Schlumberger in the 4th quarter worth about $32,000. Golden State Wealth Management LLC bought a new position in Schlumberger during the fourth quarter valued at about $34,000. Hager Investment Management Services LLC purchased a new stake in Schlumberger during the fourth quarter worth about $38,000. Finally, Bogart Wealth LLC raised its position in Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 844 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity at Schlumberger

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. This represents a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the transaction, the executive vice president now directly owns 184,626 shares in the company, valued at $8,140,160.34. This trade represents a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 315,905 shares of company stock valued at $13,609,283 over the last 90 days. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SLB shares. Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Citigroup raised their target price on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Barclays dropped their price target on Schlumberger from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Monday. Stifel Nicolaus decreased their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.69.

Schlumberger Stock Performance

NYSE:SLB opened at $42.11 on Wednesday. The stock has a market cap of $57.27 billion, a P/E ratio of 13.54, a PEG ratio of 10.10 and a beta of 1.47. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The business’s 50-day moving average price is $41.22 and its two-hundred day moving average price is $41.50. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.65.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. During the same period last year, the firm posted $0.86 earnings per share. Schlumberger’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.71%. Schlumberger’s payout ratio is 36.66%.

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.