Wealthcare Advisory Partners LLC Cuts Stake in Schlumberger Limited (NYSE:SLB)

Wealthcare Advisory Partners LLC reduced its stake in Schlumberger Limited (NYSE:SLB) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,277 shares of the oil and gas company’s stock after selling 562 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Schlumberger were worth $327,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new position in shares of Schlumberger during the 4th quarter valued at approximately $26,000. Janiczek Wealth Management LLC increased its stake in shares of Schlumberger by 1,180.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 602 shares in the last quarter. Pinnacle Bancorp Inc. lifted its stake in shares of Schlumberger by 64.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 292 shares in the last quarter. Motco raised its holdings in Schlumberger by 52.7% during the third quarter. Motco now owns 823 shares of the oil and gas company’s stock valued at $48,000 after acquiring an additional 284 shares during the period. Finally, Legacy Bridge LLC lifted its holdings in Schlumberger by 39.4% in the 4th quarter. Legacy Bridge LLC now owns 853 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 241 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Trading Up 1.3 %

SLB stock opened at $48.50 on Friday. Schlumberger Limited has a 12 month low of $42.73 and a 12 month high of $62.12. The firm’s 50-day moving average is $51.61 and its 200 day moving average is $51.49. The company has a market capitalization of $69.32 billion, a PE ratio of 16.11, a P/E/G ratio of 0.92 and a beta of 1.64. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same period last year, the company posted $0.63 earnings per share. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, research analysts anticipate that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Wednesday, June 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is currently 36.54%.

Insider Activity

In other news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the sale, the chief financial officer now owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the transaction, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now directly owns 242,932 shares in the company, valued at $11,816,212.48. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SLB. Royal Bank of Canada raised their target price on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. HSBC reaffirmed a “buy” rating and set a $71.00 target price on shares of Schlumberger in a research note on Thursday, April 4th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Wells Fargo & Company cut shares of Schlumberger from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $68.00 to $53.00 in a research note on Monday, April 29th. Finally, BMO Capital Markets cut their target price on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.72.

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.