GAMMA Investing LLC Invests $584,000 in Schlumberger Limited (NYSE:SLB)

GAMMA Investing LLC acquired a new stake in shares of Schlumberger Limited (NYSE:SLB) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 11,992 shares of the oil and gas company’s stock, valued at approximately $584,000.

Other institutional investors also recently added to or reduced their stakes in the company. Global Retirement Partners LLC boosted its holdings in Schlumberger by 14.1% in the third quarter. Global Retirement Partners LLC now owns 3,563 shares of the oil and gas company’s stock worth $199,000 after acquiring an additional 440 shares in the last quarter. DAVENPORT & Co LLC raised its stake in shares of Schlumberger by 0.9% in the third quarter. DAVENPORT & Co LLC now owns 54,995 shares of the oil and gas company’s stock worth $3,206,000 after purchasing an additional 506 shares during the last quarter. GHP Investment Advisors Inc. raised its stake in shares of Schlumberger by 68.8% in the third quarter. GHP Investment Advisors Inc. now owns 1,722 shares of the oil and gas company’s stock worth $102,000 after purchasing an additional 702 shares during the last quarter. Exchange Traded Concepts LLC raised its stake in shares of Schlumberger by 3,008.8% in the third quarter. Exchange Traded Concepts LLC now owns 6,031 shares of the oil and gas company’s stock worth $352,000 after purchasing an additional 5,837 shares during the last quarter. Finally, Wagner Wealth Management LLC raised its stake in shares of Schlumberger by 14.6% in the third quarter. Wagner Wealth Management LLC now owns 9,028 shares of the oil and gas company’s stock worth $526,000 after purchasing an additional 1,148 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In related news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now owns 242,932 shares in the company, valued at approximately $11,816,212.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total value of $304,000.00. Following the completion of the transaction, 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. Insiders have sold 110,768 shares of company stock worth $5,511,037 in the last quarter. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SLB has been the subject of several research analyst reports. Susquehanna restated a “positive” rating and issued a $77.00 price objective on shares of Schlumberger in a research note on Monday. TD Cowen reduced their price target on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday. BMO Capital Markets reduced their price target on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Monday. Stifel Nicolaus reiterated a “buy” rating and set a $64.00 price target on shares of Schlumberger in a research report on Monday. Finally, Barclays reduced their price target on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. One research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus target price of $69.67.

Schlumberger Stock Down 1.5 %

SLB stock traded down $0.74 during mid-day trading on Wednesday, reaching $48.81. The company had a trading volume of 5,337,748 shares, compared to its average volume of 11,194,360. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The company has a market capitalization of $69.67 billion, a price-to-earnings ratio of 16.46, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. The firm has a fifty day simple moving average of $51.68 and a 200 day simple moving average of $52.28. Schlumberger Limited has a fifty-two week low of $42.73 and a fifty-two week high of $62.12.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same quarter last year, the company earned $0.63 EPS. The business’s quarterly revenue was up 12.6% on a year-over-year basis. Analysts forecast that Schlumberger Limited will post 3.5 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm 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 represents a $1.10 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Wednesday, June 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

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.