Cornerstone Select Advisors LLC Takes Position in Schlumberger Limited (NYSE:SLB)

Cornerstone Select Advisors LLC bought a new stake in Schlumberger Limited (NYSE:SLB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 12,945 shares of the oil and gas company’s stock, valued at approximately $496,000.

Several other large investors have also added to or reduced their stakes in the business. YANKCOM Partnership bought a new stake in shares of Schlumberger during the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC bought a new position in shares of Schlumberger during the 4th quarter valued at approximately $32,000. Golden State Wealth Management LLC purchased a new stake in Schlumberger in the fourth quarter worth $34,000. Hager Investment Management Services LLC purchased a new stake in Schlumberger in the 4th quarter worth about $38,000. Finally, Bogart Wealth LLC increased its stake in shares of Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 844 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Gavin Rennick sold 26,990 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the sale, the insider now directly owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. This represents a 33.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares of the company’s stock, valued at $1,311,990.68. This trade represents a 44.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $33.62 on Wednesday. The firm has a market cap of $45.72 billion, a P/E ratio of 10.81, a PEG ratio of 10.10 and a beta of 1.06. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The company has a 50 day moving average of $37.55 and a 200 day moving average of $39.91.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.64 billion. During the same quarter in the prior year, the firm earned $0.75 EPS. The firm’s revenue for the quarter was down 2.5% compared to the same quarter last year. As a group, research analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.39%. The ex-dividend date is Wednesday, June 4th. Schlumberger’s payout ratio is presently 38.64%.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of analyst reports. Barclays decreased their price objective on Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research note on Friday, April 25th. Royal Bank of Canada restated an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. Evercore ISI reiterated an “in-line” rating and set a $44.00 price target (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Wells Fargo & Company upgraded Schlumberger from an “equal weight” rating to an “overweight” rating and lowered their price objective for the company from $46.00 to $44.00 in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. boosted their price target on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.32.

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.