Ingalls & Snyder LLC Buys 5,950 Shares of Schlumberger Limited (NYSE:SLB)

Ingalls & Snyder LLC grew its stake in Schlumberger Limited (NYSE:SLB) by 35.8% during the fourth quarter, Holdings Channel reports. The firm owned 22,580 shares of the oil and gas company’s stock after purchasing an additional 5,950 shares during the period. Ingalls & Snyder LLC’s holdings in Schlumberger were worth $866,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of SLB. Exchange Traded Concepts LLC grew its stake in shares of Schlumberger by 205.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 15,636 shares of the oil and gas company’s stock worth $656,000 after acquiring an additional 10,520 shares in the last quarter. ORG Partners LLC boosted its holdings in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its position in Schlumberger by 10.9% in the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 6,980 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 684 shares in the last quarter. Sumitomo Life Insurance Co. lifted its position in shares of Schlumberger by 4.3% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 18,172 shares of the oil and gas company’s stock worth $762,000 after buying an additional 755 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its holdings in shares of Schlumberger by 29.1% in the third quarter. Vontobel Holding Ltd. now owns 383,827 shares of the oil and gas company’s stock valued at $16,102,000 after acquiring an additional 86,608 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 1.5 %

Schlumberger stock opened at $42.07 on Friday. The stock has a market cap of $58.94 billion, a P/E ratio of 13.53, a PEG ratio of 9.49 and a beta of 1.51. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The firm’s fifty day moving average price is $40.06 and its 200-day moving average price is $42.09. 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 (NYSE:SLB) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.86 EPS. Equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.71%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s payout ratio is currently 36.66%.

Insider Buying and Selling

In other news, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the sale, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the transaction, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 263,782 shares of company stock worth $11,442,229. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

SLB has been the subject of several research analyst reports. Citigroup raised their target price on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Stifel Nicolaus decreased their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Susquehanna dropped their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Evercore ISI restated an “in-line” rating and set a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Finally, Wells Fargo & Company dropped their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $55.81.

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.