Copley Financial Group Inc. Purchases 841 Shares of Schlumberger Limited (NYSE:SLB)

Copley Financial Group Inc. raised its holdings in shares of Schlumberger Limited (NYSE:SLB) by 6.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,121 shares of the oil and gas company’s stock after purchasing an additional 841 shares during the quarter. Copley Financial Group Inc.’s holdings in Schlumberger were worth $503,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Audent Global Asset Management LLC purchased a new stake in shares of Schlumberger in the fourth quarter worth approximately $1,534,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Schlumberger during the 4th quarter worth $56,507,000. Employees Retirement System of Texas grew its stake in shares of Schlumberger by 2.7% in the 4th quarter. Employees Retirement System of Texas now owns 1,591,235 shares of the oil and gas company’s stock worth $61,008,000 after acquiring an additional 41,129 shares in the last quarter. Heck Capital Advisors LLC bought a new position in shares of Schlumberger during the fourth quarter valued at about $47,000. Finally, B. Riley Wealth Advisors Inc. boosted its holdings in Schlumberger by 16.5% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 42,508 shares of the oil and gas company’s stock worth $1,641,000 after purchasing an additional 6,012 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Trading Down 0.3%

Schlumberger stock opened at $33.66 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $50.94. The stock has a market cap of $45.79 billion, a P/E ratio of 10.82, a PEG ratio of 10.10 and a beta of 1.06. The firm’s fifty day moving average price is $35.94 and its 200-day moving average price is $39.24.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $8.64 billion. During the same quarter in the prior year, the company earned $0.75 earnings per share. Schlumberger’s revenue was down 2.5% compared to the same quarter last year. Equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. Jefferies Financial Group decreased their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Morgan Stanley reduced their price objective on Schlumberger from $50.00 to $45.00 and set an “overweight” rating for the company in a research note on Friday, May 16th. Barclays decreased their target price on Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Wells Fargo & Company upgraded shares of Schlumberger from an “equal weight” rating to an “overweight” rating and reduced their price target for the company from $46.00 to $44.00 in a research report on Tuesday, April 8th. Finally, Stifel Nicolaus lowered their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Five equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.44.

Insider Activity at Schlumberger

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

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.