Grandfield & Dodd LLC Raises Stock Holdings in Schlumberger Limited (NYSE:SLB)

Grandfield & Dodd LLC lifted its holdings in Schlumberger Limited (NYSE:SLB) by 27.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 9,071 shares of the oil and gas company’s stock after purchasing an additional 1,950 shares during the quarter. Grandfield & Dodd LLC’s holdings in Schlumberger were worth $348,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new position in shares of Schlumberger in the 3rd quarter worth $29,000. YANKCOM Partnership purchased a new position in Schlumberger in the fourth quarter worth about $31,000. Stonebridge Financial Group LLC purchased a new position in Schlumberger in the fourth quarter worth about $32,000. Ashton Thomas Securities LLC bought a new stake in Schlumberger during the third quarter worth approximately $37,000. Finally, Golden State Wealth Management LLC purchased a new stake in Schlumberger during the fourth quarter valued at approximately $34,000. Institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In other news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the transaction, the insider now owns 30,829 shares of the company’s stock, valued at $1,245,799.89. The trade was a 15.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Ugo Prechner sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the sale, the vice president now directly owns 11,240 shares of the company’s stock, valued at $496,808. The trade was a 38.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 290,772 shares of company stock worth $12,546,660. 0.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

SLB has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their target price on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Citigroup upped their price target on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Evercore ISI reissued an “in-line” rating and issued a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. Finally, Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Trading Up 1.8 %

NYSE:SLB opened at $41.63 on Monday. The firm has a 50-day simple moving average of $40.51 and a 200-day simple moving average of $41.80. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The firm has a market cap of $56.61 billion, a P/E ratio of 13.38, a P/E/G ratio of 10.10 and a beta of 1.51. 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 posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. Schlumberger’s revenue was up 3.3% on a year-over-year basis. Equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.74%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

Schlumberger Company 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.