W.H. Cornerstone Investments Inc. Sells 5,507 Shares of Schlumberger Limited (NYSE:SLB)

W.H. Cornerstone Investments Inc. lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 30.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 12,514 shares of the oil and gas company’s stock after selling 5,507 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in Schlumberger were worth $651,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BluePath Capital Management LLC bought a new position in shares of Schlumberger during the 3rd quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Schlumberger in the fourth quarter valued at approximately $26,000. Janiczek Wealth Management LLC increased its position in shares of Schlumberger by 1,180.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 602 shares in the last quarter. Pinnacle Bancorp Inc. raised its holdings in shares of Schlumberger by 64.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 292 shares during the period. Finally, Legacy Bridge LLC raised its holdings in shares of Schlumberger by 39.4% during the fourth quarter. Legacy Bridge LLC now owns 853 shares of the oil and gas company’s stock worth $44,000 after acquiring an additional 241 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SLB shares. TD Cowen lowered their target price on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Benchmark reissued a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Bank of America cut their target price on Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Wells Fargo & Company cut shares of Schlumberger from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $68.00 to $53.00 in a research note on Monday, April 29th. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.72.

Insider Buying and Selling

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the transaction, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.64, for a total value 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 approximately $11,816,212.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Performance

Schlumberger stock traded up $0.08 during mid-day trading on Friday, hitting $47.66. 11,007,407 shares of the company’s stock traded hands, compared to its average volume of 9,961,223. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The firm has a 50 day simple moving average of $51.63 and a two-hundred day simple moving average of $51.67. Schlumberger Limited has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The stock has a market cap of $68.12 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 0.92 and a beta of 1.64.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (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 company had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. During the same quarter last year, the company posted $0.63 EPS. Schlumberger’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, research analysts expect that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced 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. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.31%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio (DPR) is 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.