Waterfront Wealth Inc. Grows Stock Position in Schlumberger Limited (NYSE:SLB)

Waterfront Wealth Inc. lifted its stake in Schlumberger Limited (NYSE:SLB) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,051 shares of the oil and gas company’s stock after buying an additional 442 shares during the quarter. Waterfront Wealth Inc.’s holdings in Schlumberger were worth $679,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Schlumberger during the 4th quarter worth approximately $1,008,286,000. Price T Rowe Associates Inc. MD increased its holdings in Schlumberger by 200.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 10,736,684 shares of the oil and gas company’s stock valued at $527,173,000 after buying an additional 7,158,943 shares in the last quarter. Royal Bank of Canada raised its position in shares of Schlumberger by 79.7% in the third quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock worth $286,835,000 after acquiring an additional 2,182,706 shares during the period. Sanders Capital LLC boosted its stake in shares of Schlumberger by 34.9% during the 3rd quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock worth $469,693,000 after acquiring an additional 2,085,506 shares in the last quarter. Finally, Invesco Ltd. grew its position in shares of Schlumberger by 30.5% during the 3rd quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock valued at $488,020,000 after acquiring an additional 1,954,620 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 249,182 shares in the company, valued at $13,151,825.96. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Schlumberger news, EVP Mogharbel Khaled Al sold 38,570 shares of the company’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $50.42, for a total transaction of $1,944,699.40. Following the transaction, the executive vice president now directly owns 386,841 shares in the company, valued at $19,504,523.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger 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 $13,151,825.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,191 shares of company stock valued at $8,636,322. 0.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have commented on SLB shares. Wells Fargo & Company raised their price objective on Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. Bank of America upped their price objective on shares of Schlumberger from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday. The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. HSBC restated a “buy” rating and set a $71.00 price target on shares of Schlumberger in a research report on Thursday, April 4th. Finally, Barclays lowered their price objective on Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $70.31.

Schlumberger Trading Up 1.2 %

Shares of SLB stock traded up $0.63 on Thursday, hitting $51.44. 1,012,458 shares of the stock traded hands, compared to its average volume of 11,108,490. Schlumberger Limited has a twelve month low of $42.73 and a twelve month high of $62.12. The stock has a market capitalization of $73.43 billion, a PE ratio of 17.40, a PEG ratio of 0.98 and a beta of 1.60. The firm’s 50-day moving average price is $51.50 and its two-hundred day moving average price is $52.50. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.32.

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

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.