Lyell Wealth Management LP Purchases 7,772 Shares of Schlumberger Limited (NYSE:SLB)

Lyell Wealth Management LP lifted its position in shares of Schlumberger Limited (NYSE:SLB) by 4.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 174,008 shares of the oil and gas company’s stock after buying an additional 7,772 shares during the quarter. Lyell Wealth Management LP’s holdings in Schlumberger were worth $9,055,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BluePath Capital Management LLC bought a new position in shares of Schlumberger during the 3rd quarter worth $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Schlumberger during the 4th quarter worth $26,000. MCF Advisors LLC lifted its stake in shares of Schlumberger by 1,355.9% during the 3rd quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock worth $29,000 after purchasing an additional 461 shares during the last quarter. Janiczek Wealth Management LLC lifted its stake in shares of Schlumberger by 1,180.4% during the 4th 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 during the last quarter. Finally, 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 worth $39,000 after purchasing an additional 292 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the sale, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders have sold a total of 110,768 shares of company stock valued at $5,511,037 over the last ninety days. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on SLB shares. Wells Fargo & Company upped their price objective on Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a research note on Monday, January 22nd. Benchmark restated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research note on Monday. Bank of America decreased their price objective on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Monday. TD Cowen decreased their price objective on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $64.00 price target on shares of Schlumberger in a research note on Monday. One equities research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $69.67.

Schlumberger Stock Performance

Shares of SLB stock traded down $0.44 during mid-day trading on Wednesday, reaching $49.11. The stock had a trading volume of 10,163,834 shares, compared to its average volume of 11,262,749. The business’s fifty day moving average is $51.71 and its 200-day moving average is $52.25. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The firm has a market cap of $70.10 billion, a price-to-earnings ratio of 16.32, a PEG ratio of 0.95 and a beta of 1.60. Schlumberger Limited has a 1-year low of $42.73 and a 1-year high of $62.12.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.75. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company’s revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.63 earnings per share. On average, research analysts forecast that Schlumberger Limited will post 3.5 earnings per share for the current year.

Schlumberger Increases Dividend

The company 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 $0.275 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.24%. Schlumberger’s dividend payout ratio is currently 36.54%.

Schlumberger Company 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.