Shelton Wealth Management LLC Invests $1.05 Million in Schlumberger Limited (NYSE:SLB)

Shelton Wealth Management LLC purchased a new stake in Schlumberger Limited (NYSE:SLB) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 27,474 shares of the oil and gas company’s stock, valued at approximately $1,053,000.

Other large investors have also recently bought and sold shares of the company. ORG Partners LLC increased its holdings in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares in the last quarter. Prospera Private Wealth LLC bought a new position in shares of Schlumberger in the third quarter valued at about $29,000. Ashton Thomas Securities LLC bought a new stake in Schlumberger during the 3rd quarter worth about $37,000. DiNuzzo Private Wealth Inc. increased its position in Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP bought a new position in Schlumberger in the 3rd quarter worth approximately $47,000. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Schlumberger

In related 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 transaction of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on SLB shares. Bank of America lowered their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Evercore ISI reissued 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. Citigroup decreased their price target on shares of Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Jefferies Financial Group lowered their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Finally, Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $56.03.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $43.58 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The firm has a market cap of $61.54 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. The firm’s fifty day moving average is $40.85 and its 200-day moving average is $42.92.

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

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.62%. 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.