Oak Harvest Investment Services Has $6.57 Million Stock Position in Schlumberger Limited (NYSE:SLB)

Oak Harvest Investment Services lessened its position in shares of Schlumberger Limited (NYSE:SLB) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 171,256 shares of the oil and gas company’s stock after selling 7,854 shares during the period. Oak Harvest Investment Services’ holdings in Schlumberger were worth $6,566,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky grew its holdings in Schlumberger by 25.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock valued at $31,961,000 after buying an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its position in shares of Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after acquiring an additional 16,350 shares during the period. Victory Capital Management Inc. grew its stake in shares of Schlumberger by 8.7% in the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after acquiring an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC increased its position in Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after acquiring an additional 14,376 shares during the period. Finally, Los Angeles Capital Management LLC boosted its holdings in Schlumberger by 26.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock valued at $12,880,000 after purchasing an additional 63,413 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In related news, VP Ugo Prechner sold 7,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the transaction, the vice president now directly owns 11,240 shares of the company’s stock, valued at $496,808. This represents a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the transaction, the director now owns 49,595 shares in the company, valued at $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 258,258 shares of company stock valued at $11,219,004. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of SLB opened at $41.03 on Friday. The business has a 50-day moving average of $40.64 and a 200-day moving average of $42.65. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The company has a market capitalization of $57.47 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 9.70 and a beta of 1.52. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter in the previous year, the company earned $0.86 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. As a group, equities research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued 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 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Stifel Nicolaus lowered their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. TD Cowen raised their price objective on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Profile

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.