Fortitude Advisory Group L.L.C. Acquires New Shares in Schlumberger Limited (NYSE:SLB)

Fortitude Advisory Group L.L.C. bought a new stake in Schlumberger Limited (NYSE:SLB) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 9,465 shares of the oil and gas company’s stock, valued at approximately $363,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pacer Advisors Inc. raised its stake in shares of Schlumberger by 12,289.6% during the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after purchasing an additional 12,938,082 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Schlumberger by 20.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after purchasing an additional 1,916,851 shares during the period. Weiss Asset Management LP bought a new position in Schlumberger during the 3rd quarter valued at $37,322,000. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Schlumberger during the 4th quarter valued at $25,481,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of Schlumberger by 395.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 778,938 shares of the oil and gas company’s stock valued at $32,676,000 after buying an additional 621,809 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

NYSE SLB opened at $42.55 on Tuesday. The firm has a market cap of $60.08 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 9.98 and a beta of 1.52. The stock’s 50-day moving average is $40.74 and its two-hundred day moving average is $42.72. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9,241,140 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.86 earnings per share. On average, analysts anticipate that Schlumberger Limited will post 3.34 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.68%. Schlumberger’s dividend payout ratio is presently 35.37%.

Analyst Ratings Changes

Several brokerages have commented on SLB. Stifel Nicolaus dropped their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Jefferies Financial Group dropped their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Wells Fargo & Company decreased their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. TD Cowen raised their price objective on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, Susquehanna cut their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Insider Buying and Selling at Schlumberger

In other news, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the sale, the vice president now owns 11,240 shares in the company, valued at approximately $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the transaction, the executive vice president now owns 184,626 shares of the company’s stock, valued at approximately $8,140,160.34. The trade was a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 198,258 shares of company stock valued at $8,732,604 in the last 90 days. 0.26% of the stock is currently owned by insiders.

About Schlumberger

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.