Cidel Asset Management Inc. Has $270,000 Holdings in Schlumberger Limited (NYSE:SLB)

Cidel Asset Management Inc. grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 8.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,053 shares of the oil and gas company’s stock after acquiring an additional 539 shares during the quarter. Cidel Asset Management Inc.’s holdings in Schlumberger were worth $270,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SLB. ORG Partners LLC increased its holdings in shares of 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 buying an additional 484 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger in the third quarter worth $29,000. YANKCOM Partnership bought a new position in shares of Schlumberger during the fourth quarter worth about $31,000. Golden State Wealth Management LLC bought a new stake in shares of Schlumberger in the 4th quarter valued at $34,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Schlumberger in the 3rd quarter worth about $37,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Schlumberger

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares in the company, valued at approximately $496,808. The trade was a 38.38 % 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 Dianne B. Ralston sold 43,161 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the transaction, the insider now owns 235,024 shares in the company, valued at $10,331,655.04. This represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 263,782 shares of company stock worth $11,442,229. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SLB shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. Jefferies Financial Group reduced their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. JPMorgan Chase & Co. raised their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Trading Up 0.3 %

Shares of SLB stock opened at $40.15 on Friday. 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 firm has a market cap of $56.25 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 9.49 and a beta of 1.51. The business has a 50-day moving average price of $40.17 and a two-hundred day moving average price of $42.28. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. During the same period last year, the business earned $0.86 earnings per share. The business’s quarterly 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. Stockholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.84%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is 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.