AlphaStar Capital Management LLC Acquires New Position in Schlumberger Limited (NYSE:SLB)

AlphaStar Capital Management LLC acquired a new stake in Schlumberger Limited (NYSE:SLBFree Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 9,877 shares of the oil and gas company’s stock, valued at approximately $514,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. CI Investments Inc. lifted its position in shares of Schlumberger by 4.9% in the 3rd quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock valued at $241,000 after acquiring an additional 192 shares in the last quarter. Allworth Financial LP increased its stake in Schlumberger by 3.8% in the 3rd quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock valued at $324,000 after buying an additional 206 shares during the period. Atria Wealth Solutions Inc. increased its stake in Schlumberger by 0.6% in the 3rd quarter. Atria Wealth Solutions Inc. now owns 34,414 shares of the oil and gas company’s stock valued at $2,007,000 after buying an additional 206 shares during the period. Investment Advisory Services Inc. TX ADV increased its stake in Schlumberger by 1.9% in the 4th quarter. Investment Advisory Services Inc. TX ADV now owns 12,196 shares of the oil and gas company’s stock valued at $635,000 after buying an additional 228 shares during the period. Finally, Horizon Bancorp Inc. IN increased its stake in Schlumberger by 7.0% in the 4th quarter. Horizon Bancorp Inc. IN now owns 3,586 shares of the oil and gas company’s stock valued at $187,000 after buying an additional 236 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Performance

Schlumberger stock traded up $0.19 during mid-day trading on Monday, reaching $48.69. The company had a trading volume of 3,492,221 shares, compared to its average volume of 10,915,808. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 52 week low of $42.73 and a 52 week high of $62.12. The company has a 50 day moving average of $51.60 and a 200-day moving average of $51.36. The firm has a market cap of $69.59 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 0.93 and a beta of 1.64.

Schlumberger (NYSE:SLBGet Free Report) last released its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. On average, sell-side analysts expect that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.26%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SLB shares. Susquehanna reiterated a “positive” rating and issued a $77.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Bank of America dropped their price target on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. BMO Capital Markets dropped their price target on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Wells Fargo & Company lowered shares of Schlumberger from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $68.00 to $53.00 in a research note on Monday, April 29th. Finally, Barclays dropped their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $68.72.

Read Our Latest Stock Analysis on Schlumberger

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction dated 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 of the company’s stock, valued at $11,816,212.48. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Schlumberger Company Profile

(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.

See Also

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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