Orion Portfolio Solutions LLC Increases Stock Position in Schlumberger Limited (NYSE:SLB)

Orion Portfolio Solutions LLC boosted its position in Schlumberger Limited (NYSE:SLB) by 3.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 75,401 shares of the oil and gas company’s stock after acquiring an additional 2,740 shares during the period. Orion Portfolio Solutions LLC’s holdings in Schlumberger were worth $2,891,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of research analyst reports. Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Jefferies Financial Group reduced 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 Thursday, March 27th. Citigroup raised their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Barclays reduced their target price on Schlumberger from $54.00 to $53.00 and set an “overweight” rating on the stock in a report on Monday. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. Six 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $55.69.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’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 sale, the executive vice president now owns 210,502 shares in the company, valued at approximately $8,723,202.88. This trade represents a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gavin Rennick sold 26,990 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the sale, the insider now owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. This represents a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock worth $12,546,660 over the last three months. 0.26% of the stock is currently owned by company insiders.

Schlumberger Stock Performance

SLB stock opened at $41.83 on Tuesday. The stock’s 50 day simple moving average is $41.25 and its 200 day simple moving average is $41.48. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.65. The stock has a market capitalization of $56.89 billion, a PE ratio of 13.45, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. During the same period in the prior year, the company posted $0.86 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

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.