Addison Advisors LLC Purchases 790 Shares of Schlumberger Limited (NYSE:SLB)

Addison Advisors LLC increased its position in shares of Schlumberger Limited (NYSE:SLB) by 31.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,318 shares of the oil and gas company’s stock after purchasing an additional 790 shares during the period. Addison Advisors LLC’s holdings in Schlumberger were worth $173,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. BluePath Capital Management LLC bought a new stake in Schlumberger in the 3rd quarter valued at $25,000. MCF Advisors LLC raised its position in Schlumberger by 1,355.9% in the third 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 in the last quarter. Turtle Creek Wealth Advisors LLC acquired a new position in Schlumberger in the fourth quarter worth about $26,000. Janiczek Wealth Management LLC lifted its stake in 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 purchasing an additional 602 shares during the period. Finally, Pinnacle Bancorp Inc. boosted its holdings in Schlumberger by 64.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 292 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Trading Down 0.5 %

Shares of NYSE:SLB traded down $0.24 during trading on Friday, hitting $49.20. 8,250,858 shares of the company’s stock were exchanged, compared to its average volume of 9,808,635. The firm has a 50-day moving average price of $51.74 and a two-hundred day moving average price of $52.17. Schlumberger Limited has a 1-year low of $42.73 and a 1-year high of $62.12. The firm has a market cap of $70.32 billion, a P/E ratio of 16.35, a PEG ratio of 0.95 and a beta of 1.60. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results 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. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter in the prior year, the business posted $0.63 EPS. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. Equities analysts predict that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 2.24%. The ex-dividend date is Wednesday, June 5th. Schlumberger’s payout ratio is presently 36.54%.

Insider Activity

In related news, EVP Abdellah Merad sold 50,000 shares of the business’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 transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction on Monday, February 26th. The shares were 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 of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction 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 disclosure for this sale can be found here. Insiders sold a total of 90,545 shares of company stock valued at $4,458,430 in the last ninety days. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SLB shares. Barclays dropped their target price on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. HSBC reissued a “buy” rating and set a $71.00 price objective on shares of Schlumberger in a report on Thursday, April 4th. Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Royal Bank of Canada increased their target price on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $64.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a hold rating and eighteen have issued 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 $69.67.

About Schlumberger

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.