Schlumberger Limited (NYSE:SLB) Stake Boosted by Apollon Wealth Management LLC

Apollon Wealth Management LLC boosted its stake in Schlumberger Limited (NYSE:SLB) by 50.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,814 shares of the oil and gas company’s stock after buying an additional 9,957 shares during the period. Apollon Wealth Management LLC’s holdings in Schlumberger were worth $1,552,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SLB. BluePath Capital Management LLC acquired a new stake in Schlumberger in the third quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Schlumberger in the fourth quarter worth $26,000. Janiczek Wealth Management LLC increased its position in Schlumberger by 1,180.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after buying an additional 602 shares during the period. Pinnacle Bancorp Inc. increased its holdings in shares of 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 during the period. Finally, Legacy Bridge LLC raised its stake in shares of Schlumberger by 39.4% during the fourth quarter. Legacy Bridge LLC now owns 853 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 241 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have commented on the stock. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. BMO Capital Markets lowered their price objective on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Wells Fargo & Company lowered shares of Schlumberger from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $68.00 to $53.00 in a research note on Monday, April 29th. Benchmark reiterated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Finally, Susquehanna reiterated a “positive” rating and set a $77.00 price objective on shares of Schlumberger in a research note 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, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.72.

Insider Activity at Schlumberger

In related 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 value of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction 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 transaction, the chief financial officer now owns 242,932 shares in the company, valued at approximately $11,816,212.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 owns 261,507 shares in the company, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Schlumberger Stock Down 0.2 %

Shares of NYSE:SLB traded down $0.11 during trading on Wednesday, reaching $48.06. 1,674,622 shares of the company traded hands, compared to its average volume of 11,016,792. The firm has a fifty day simple moving average of $51.62 and a 200 day simple moving average of $51.51. The firm has a market cap of $68.69 billion, a P/E ratio of 16.00, a price-to-earnings-growth ratio of 0.92 and a beta of 1.64. Schlumberger Limited has a 1-year low of $42.73 and a 1-year high of $62.12. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. Analysts anticipate that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm 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 represents a $1.10 annualized dividend and a dividend yield of 2.29%. The ex-dividend date of this dividend is Wednesday, June 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is presently 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.