Schlumberger Limited (NYSE:SLB) Shares Acquired by Great Lakes Retirement Inc.

Great Lakes Retirement Inc. lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 60.7% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 257,784 shares of the oil and gas company’s stock after acquiring an additional 97,375 shares during the period. Schlumberger makes up approximately 1.3% of Great Lakes Retirement Inc.’s investment portfolio, making the stock its 21st largest holding. Great Lakes Retirement Inc.’s holdings in Schlumberger were worth $9,883,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. ORG Partners LLC boosted its position in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares during the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Schlumberger during the third quarter valued at approximately $29,000. YANKCOM Partnership acquired a new stake in shares of Schlumberger in the fourth quarter worth approximately $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Schlumberger during the fourth quarter worth approximately $32,000. Finally, Golden State Wealth Management LLC acquired a new position in Schlumberger in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. BMO Capital Markets lowered their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Citigroup lifted their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. TD Cowen increased their price target on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Stock Performance

Shares of SLB opened at $41.75 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm’s 50 day moving average is $40.12 and its 200-day moving average is $42.14. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The stock has a market capitalization of $58.49 billion, a P/E ratio of 13.43, a P/E/G ratio of 9.49 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 earnings per share. Equities research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.73%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Insider Activity

In related 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 transaction of $1,897,357.56. Following the transaction, the insider now directly owns 235,024 shares in the company, valued at $10,331,655.04. The trade was a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the sale, the insider now owns 30,829 shares of the company’s stock, valued at $1,245,799.89. This represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 263,782 shares of company stock worth $11,442,229 in the last ninety days. Corporate insiders own 0.26% of the company’s stock.

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.