Mountain Hill Investment Partners Corp. Acquires New Stake in Schlumberger Limited (NYSE:SLB)

Mountain Hill Investment Partners Corp. acquired a new position in shares of Schlumberger Limited (NYSE:SLB) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 130,150 shares of the oil and gas company’s stock, valued at approximately $4,990,000. Schlumberger comprises about 5.1% of Mountain Hill Investment Partners Corp.’s holdings, making the stock its 9th biggest position.

Several other hedge funds also recently made changes to their positions in SLB. YANKCOM Partnership purchased a new position in Schlumberger during the fourth quarter worth about $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Schlumberger during the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC purchased a new position in shares of Schlumberger during the 4th quarter worth approximately $34,000. Hager Investment Management Services LLC purchased a new stake in shares of Schlumberger in the fourth quarter valued at approximately $38,000. Finally, Bogart Wealth LLC boosted its stake in shares of Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 844 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the sale, the executive vice president now directly owns 210,502 shares in the company, valued at approximately $8,723,202.88. The trade was a 22.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gavin Rennick sold 26,990 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the transaction, the insider now directly owns 53,584 shares in the company, valued at approximately $2,192,657.28. This represents a 33.50 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 290,772 shares of company stock valued at $12,546,660. Insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

NYSE:SLB opened at $41.09 on Monday. The firm has a market cap of $55.87 billion, a price-to-earnings ratio of 13.21, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company’s 50-day moving average is $41.18 and its two-hundred day moving average is $41.41.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 earnings per share. Research analysts expect that Schlumberger Limited will post 3.38 EPS for the current 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 given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.77%. Schlumberger’s dividend payout ratio is 36.66%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Royal Bank of Canada reissued an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. boosted 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. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Barclays decreased their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Six investment 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

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.