Proficio Capital Partners LLC Makes New Investment in Schlumberger Limited (NYSE:SLB)

Proficio Capital Partners LLC acquired a new stake in shares of Schlumberger Limited (NYSE:SLB) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 209,368 shares of the oil and gas company’s stock, valued at approximately $8,027,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky increased its holdings in shares of Schlumberger by 25.9% in the 3rd 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 buying an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after acquiring an additional 16,350 shares in the last quarter. Victory Capital Management Inc. raised its position in Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after purchasing an additional 65,318 shares during the period. Bryn Mawr Capital Management LLC lifted its stake in shares of Schlumberger by 502.6% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company’s stock valued at $7,592,000 after purchasing an additional 165,162 shares during the last quarter. Finally, Concurrent Investment Advisors LLC boosted its holdings in shares of Schlumberger by 269.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after purchasing an additional 14,376 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the sale, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dianne B. Ralston sold 43,161 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total value of $1,897,357.56. Following the transaction, the insider now directly owns 235,024 shares in the company, valued at approximately $10,331,655.04. The trade was a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 290,772 shares of company stock valued at $12,546,660. 0.26% of the stock is currently owned by insiders.

Schlumberger Price Performance

Shares of SLB opened at $41.63 on Monday. 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 50 day moving average price of $40.51 and a 200-day moving average price of $41.80. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The stock has a market capitalization of $56.61 billion, a PE ratio of 13.38, a PEG ratio of 10.10 and a beta of 1.51.

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, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. Equities analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.74%. Schlumberger’s payout ratio is currently 36.66%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Atb Cap Markets lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Wells Fargo & Company cut their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Royal Bank of Canada restated an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Finally, Stifel Nicolaus reduced their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average 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.