Cullen Investment Group LTD. Acquires Shares of 11,259 Schlumberger Limited (NYSE:SLB)

Cullen Investment Group LTD. acquired a new stake in Schlumberger Limited (NYSE:SLB) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 11,259 shares of the oil and gas company’s stock, valued at approximately $586,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BluePath Capital Management LLC purchased a new stake in shares of Schlumberger during the 3rd quarter worth approximately $25,000. Acadian Asset Management LLC purchased a new stake in shares of Schlumberger during the 1st quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Schlumberger during the 4th quarter worth approximately $26,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Schlumberger during the 2nd quarter worth approximately $27,000. Finally, MCF Advisors LLC increased its stake in shares of Schlumberger by 1,355.9% during the 3rd 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 during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on SLB shares. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Susquehanna reaffirmed a “positive” rating and issued a $77.00 price objective on shares of Schlumberger in a report on Monday, April 8th. Royal Bank of Canada raised their price objective on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. Bank of America raised their price objective on shares of Schlumberger from $62.00 to $63.00 and gave the stock a “buy” rating in a report on Monday. Finally, Stifel Nicolaus raised their price objective on shares of Schlumberger from $63.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, January 22nd. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $70.31.

Insider Transactions at Schlumberger

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 completion of the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the sale, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,191 shares of company stock valued at $8,636,322. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.6 %

Shares of NYSE:SLB opened at $51.67 on Tuesday. The firm has a fifty day moving average price of $51.36 and a two-hundred day moving average price of $52.56. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 1.00. Schlumberger Limited has a one year low of $42.73 and a one year high of $62.12. The company has a market cap of $73.75 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 0.94 and a beta of 1.60.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.84 by $0.02. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The firm had revenue of $8.99 billion during the quarter, compared to the consensus estimate of $8.96 billion. During the same period last year, the firm earned $0.71 EPS. The business’s quarterly revenue was up 14.1% compared to the same quarter last year. Analysts anticipate that Schlumberger Limited will post 3.52 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Wednesday, February 7th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date was Tuesday, February 6th. Schlumberger’s dividend payout ratio is currently 34.25%.

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.