Richard Bernstein Advisors LLC Buys Shares of 54,113 Schlumberger Limited (NYSE:SLB)

Richard Bernstein Advisors LLC acquired a new position in Schlumberger Limited (NYSE:SLBFree Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 54,113 shares of the oil and gas company’s stock, valued at approximately $3,155,000.

Several other institutional investors have also added to or reduced their stakes in the stock. Gotham Asset Management LLC raised its holdings in Schlumberger by 10.9% in the 3rd quarter. Gotham Asset Management LLC now owns 69,071 shares of the oil and gas company’s stock worth $4,027,000 after purchasing an additional 6,794 shares in the last quarter. Corton Capital Inc. increased its stake in shares of Schlumberger by 86.2% in the 3rd quarter. Corton Capital Inc. now owns 13,230 shares of the oil and gas company’s stock worth $771,000 after acquiring an additional 6,124 shares in the last quarter. Fred Alger Management LLC increased its stake in shares of Schlumberger by 6.4% in the 3rd quarter. Fred Alger Management LLC now owns 2,703,670 shares of the oil and gas company’s stock worth $157,624,000 after acquiring an additional 163,712 shares in the last quarter. Ancora Advisors LLC increased its stake in shares of Schlumberger by 3.6% in the 3rd quarter. Ancora Advisors LLC now owns 6,819 shares of the oil and gas company’s stock worth $398,000 after acquiring an additional 240 shares in the last quarter. Finally, Cape Cod Five Cents Savings Bank increased its stake in shares of Schlumberger by 101.6% in the 3rd quarter. Cape Cod Five Cents Savings Bank now owns 8,880 shares of the oil and gas company’s stock worth $518,000 after acquiring an additional 4,476 shares in the last quarter. 79.43% of the stock is currently owned by institutional investors.

Schlumberger Stock Performance

Shares of SLB traded up $0.34 on Thursday, reaching $48.50. The company’s stock had a trading volume of 2,452,225 shares, compared to its average volume of 12,885,299. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.00. The stock has a market capitalization of $69.23 billion, a P/E ratio of 16.61, a PEG ratio of 0.87 and a beta of 1.61. The stock’s 50 day simple moving average is $49.94 and its two-hundred day simple moving average is $54.08. Schlumberger Limited has a 12-month low of $42.73 and a 12-month high of $62.12.

Schlumberger (NYSE:SLBGet Free Report) last issued its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The business had revenue of $8.99 billion for the quarter, compared to the consensus estimate of $8.96 billion. During the same quarter in the previous year, the firm earned $0.71 earnings per share. The company’s revenue for the quarter was up 14.1% on a year-over-year basis. Research analysts forecast that Schlumberger Limited will post 3.54 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Wednesday, February 7th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.06%. The ex-dividend date is Tuesday, February 6th. Schlumberger’s dividend payout ratio is currently 34.25%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SLB shares. Wells Fargo & Company increased their price target on shares of Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. Stifel Nicolaus raised their price objective on shares of Schlumberger from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Barclays reduced their price objective on shares of Schlumberger from $77.00 to $74.00 and set an “overweight” rating for the company in a research note on Monday, January 22nd. Susquehanna restated a “positive” rating and set a $77.00 price objective on shares of Schlumberger in a research note on Tuesday, February 13th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $66.00 price objective on shares of Schlumberger in a research note on Thursday, February 8th. One investment analyst has rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $70.67.

Check Out Our Latest Report on SLB

Insider Buying and Selling at Schlumberger

In other news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Tuesday, December 26th. The shares were sold at an average price of $53.86, for a total transaction of $336,625.00. Following the sale, the chief financial officer now owns 163,515 shares in the company, valued at $8,806,917.90. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction on Tuesday, December 26th. The shares were sold at an average price of $53.86, for a total value of $336,625.00. Following the sale, the chief financial officer now owns 163,515 shares in the company, valued at $8,806,917.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Howard Guild sold 22,853 shares of Schlumberger stock in a transaction on Wednesday, January 24th. The stock was sold at an average price of $51.66, for a total transaction of $1,180,585.98. Following the transaction, the chief accounting officer now directly owns 22,181 shares of the company’s stock, valued at $1,145,870.46. The disclosure for this sale can be found here. Insiders have sold 178,441 shares of company stock valued at $8,972,947 over the last 90 days. 0.26% of the stock is currently owned by corporate insiders.

About Schlumberger

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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