Legal Advantage Investments Inc. Buys New Stake in Schlumberger Limited (NYSE:SLB)

Legal Advantage Investments Inc. bought a new stake in shares of Schlumberger Limited (NYSE:SLB) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 20,644 shares of the oil and gas company’s stock, valued at approximately $791,000.

A number of other large investors have also modified their holdings of SLB. Teachers Retirement System of The State of Kentucky increased its stake in shares of Schlumberger by 25.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after purchasing an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB grew its stake in Schlumberger by 27.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after acquiring an additional 16,350 shares in the last quarter. Victory Capital Management Inc. grew its stake in Schlumberger by 8.7% during the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after acquiring an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC grew its stake in Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after acquiring an additional 14,376 shares in the last quarter. Finally, Public Sector Pension Investment Board grew its stake in Schlumberger by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after acquiring an additional 11,813 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Up 6.1 %

SLB stock opened at $43.58 on Tuesday. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The stock has a market capitalization of $61.54 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 3.61 and a beta of 1.52. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The company has a fifty day moving average of $40.86 and a 200-day moving average of $42.84.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same quarter last year, the business earned $0.86 EPS. The business’s revenue was up 3.3% on a year-over-year basis. As a group, analysts expect that Schlumberger Limited will post 3.29 EPS for the current 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 paid a $0.285 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.62%. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

SLB has been the subject of several research reports. Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. TD Cowen decreased their price objective on shares of Schlumberger from $65.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. JPMorgan Chase & Co. decreased their price objective on shares of Schlumberger from $55.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. BMO Capital Markets reduced their target price on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Finally, Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report 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 assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.03.

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.