Red Cedar Investment Management LLC Boosts Stock Holdings in Schlumberger Limited (NYSE:SLB)

Red Cedar Investment Management LLC lifted its stake in Schlumberger Limited (NYSE:SLB) by 6.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,242 shares of the oil and gas company’s stock after purchasing an additional 1,369 shares during the period. Red Cedar Investment Management LLC’s holdings in Schlumberger were worth $1,105,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of SLB. Royal Bank of Canada grew its stake in shares of Schlumberger by 79.7% during the third quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock worth $286,835,000 after purchasing an additional 2,182,706 shares in the last quarter. Sanders Capital LLC boosted its position in shares of Schlumberger by 34.9% during the 3rd quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock worth $469,693,000 after acquiring an additional 2,085,506 shares in the last quarter. Invesco Ltd. boosted its position in shares of Schlumberger by 30.5% during the 3rd quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock worth $488,020,000 after acquiring an additional 1,954,620 shares in the last quarter. Capital Wealth Planning LLC increased its holdings in shares of Schlumberger by 48.2% in the 3rd quarter. Capital Wealth Planning LLC now owns 5,555,662 shares of the oil and gas company’s stock valued at $323,895,000 after acquiring an additional 1,807,061 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Schlumberger by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock worth $7,609,804,000 after acquiring an additional 1,412,821 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Performance

NYSE SLB traded up $0.08 on Friday, hitting $47.66. 11,007,407 shares of the company’s stock were exchanged, compared to its average volume of 9,961,223. The firm 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. The firm’s 50-day moving average price is $51.63 and its two-hundred day moving average price is $51.79. Schlumberger Limited has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02.

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, hitting analysts’ consensus estimates of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same quarter in the prior year, the company posted $0.63 earnings per share. Schlumberger’s quarterly revenue was up 12.6% on a year-over-year basis. On average, research analysts expect that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a $0.275 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.31%. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction 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 completion of 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 accessible through the SEC website. In other news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value 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 document filed with the SEC, which is available at this link. Also, CFO Stephane Biguet sold 6,250 shares of the business’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 completion of the sale, the chief financial officer now owns 242,932 shares in the company, valued at $11,816,212.48. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SLB has been the topic of several recent analyst reports. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. HSBC reaffirmed a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a research report on Thursday, April 4th. Susquehanna reissued a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Bank of America decreased their price objective on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, TD Cowen reduced 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. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $68.72.

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.