Polymer Capital Management US LLC Takes $397,000 Position in Schlumberger Limited (NYSE:SLB)

Polymer Capital Management US LLC bought a new position in shares of Schlumberger Limited (NYSE:SLB) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,354 shares of the oil and gas company’s stock, valued at approximately $397,000.

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

Insider Transactions at Schlumberger

In related news, VP Ugo Prechner sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the transaction, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Aparna Raman sold 25,133 shares of the business’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the sale, the insider now directly owns 31,031 shares in the company, valued at approximately $1,311,990.68. The trade was a 44.75 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 315,905 shares of company stock valued at $13,609,283. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on SLB shares. JPMorgan Chase & Co. lifted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Evercore ISI reissued an “in-line” rating and issued a $44.00 price target (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Royal Bank of Canada restated an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. Finally, BMO Capital Markets decreased their target price on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $54.79.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $33.15 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company has a market cap of $45.07 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. The company has a 50 day moving average of $40.84 and a 200-day moving average of $41.38. Schlumberger Limited has a 1-year low of $31.86 and a 1-year high of $55.65.

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, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter last year, the business posted $0.86 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th were paid a dividend of $0.285 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 3.44%. Schlumberger’s payout ratio is presently 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.