LifePlan Financial LLC Buys New Shares in Schlumberger Limited (NYSE:SLB)

LifePlan Financial LLC bought a new stake in shares of Schlumberger Limited (NYSE:SLB) in the 4th quarter, HoldingsChannel reports. The firm bought 20,512 shares of the oil and gas company’s stock, valued at approximately $1,067,000. Schlumberger accounts for about 1.1% of LifePlan Financial LLC’s holdings, making the stock its 29th largest position.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Schlumberger by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock valued at $7,609,804,000 after acquiring an additional 1,412,821 shares in the last quarter. FMR LLC lifted its position in shares of Schlumberger by 1.1% in the 3rd quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock valued at $1,584,099,000 after acquiring an additional 282,709 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Schlumberger by 1.6% in the 1st quarter. Geode Capital Management LLC now owns 25,347,967 shares of the oil and gas company’s stock valued at $1,241,319,000 after acquiring an additional 401,606 shares in the last quarter. Norges Bank purchased a new stake in shares of Schlumberger in the 4th quarter valued at approximately $1,008,286,000. Finally, Morgan Stanley lifted its position in shares of Schlumberger by 1.9% in the 3rd quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock valued at $920,561,000 after acquiring an additional 292,817 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Down 0.6 %

Shares of SLB traded down $0.33 during mid-day trading on Monday, hitting $51.67. 9,478,615 shares of the company’s stock were exchanged, compared to its average volume of 11,307,502. The firm has a fifty day moving average of $51.30 and a two-hundred day moving average of $52.62. Schlumberger Limited has a twelve month low of $42.73 and a twelve month high of $62.12. The stock has a market cap of $73.75 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 0.94 and a beta of 1.60. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.84 by $0.02. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The company had revenue of $8.99 billion for the quarter, compared to analyst estimates of $8.96 billion. During the same quarter in the prior year, the business posted $0.71 EPS. Schlumberger’s quarterly revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts forecast that Schlumberger Limited will post 3.52 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Wednesday, February 7th were paid a $0.25 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.94%. Schlumberger’s payout ratio is presently 34.25%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Wells Fargo & Company upped their price target on shares of Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. Susquehanna reiterated a “positive” rating and issued a $77.00 price objective on shares of Schlumberger in a research note on Monday, April 8th. Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Wednesday, April 3rd. Barclays dropped their price objective on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Finally, Royal Bank of Canada upped their price objective on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.31.

Insider Activity at Schlumberger

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the sale, the chief financial officer now owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,191 shares of company stock worth $8,636,322. 0.26% of the stock is owned by insiders.

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.