PFG Investments LLC Purchases 2,898 Shares of Schlumberger Limited (NYSE:SLB)

PFG Investments LLC grew its stake in Schlumberger Limited (NYSE:SLB) by 11.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,539 shares of the oil and gas company’s stock after purchasing an additional 2,898 shares during the period. PFG Investments LLC’s holdings in Schlumberger were worth $1,094,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. State Street Corp lifted its stake in shares of Schlumberger by 0.6% in the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after purchasing an additional 528,279 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Schlumberger by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after purchasing an additional 239,966 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after purchasing an additional 1,916,851 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Schlumberger by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock valued at $335,214,000 after purchasing an additional 31,718 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in shares of Schlumberger by 8.0% in the 3rd quarter. Principal Financial Group Inc. now owns 4,487,067 shares of the oil and gas company’s stock valued at $188,232,000 after purchasing an additional 332,500 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Schlumberger Stock Performance

Shares of SLB opened at $41.33 on Wednesday. The stock has a 50-day moving average of $40.73 and a two-hundred day moving average of $42.69. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The stock has a market cap of $58.36 billion, a P/E ratio of 13.29, a P/E/G ratio of 9.98 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. As a group, research analysts predict that Schlumberger Limited will post 3.34 EPS for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is 35.37%.

Insider Activity

In other news, insider Dianne B. Ralston sold 43,161 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the transaction, the insider now owns 235,024 shares of the company’s stock, valued at $10,331,655.04. The trade was a 15.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the transaction, the director now directly owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 198,258 shares of company stock valued at $8,732,604 in the last quarter. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SLB shares. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Wells Fargo & Company reduced their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price target on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Bank of America reduced their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and an average 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.