17,960 Shares in Schlumberger Limited (NYSE:SLB) Purchased by Paradigm Financial Partners LLC

Paradigm Financial Partners LLC purchased a new stake in Schlumberger Limited (NYSE:SLB) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 17,960 shares of the oil and gas company’s stock, valued at approximately $935,000.

Other hedge funds have also recently bought and sold shares of the company. Exchange Traded Concepts LLC boosted its stake in Schlumberger by 3,008.8% in the third quarter. Exchange Traded Concepts LLC now owns 6,031 shares of the oil and gas company’s stock worth $352,000 after purchasing an additional 5,837 shares in the last quarter. HCR Wealth Advisors bought a new position in Schlumberger in the third quarter valued at about $249,000. PDS Planning Inc acquired a new stake in Schlumberger in the third quarter worth about $227,000. FAS Wealth Partners Inc. raised its holdings in Schlumberger by 6.8% during the 3rd quarter. FAS Wealth Partners Inc. now owns 35,527 shares of the oil and gas company’s stock worth $2,071,000 after purchasing an additional 2,249 shares during the last quarter. Finally, Sheets Smith Wealth Management lifted its holdings in Schlumberger by 23.9% in the third quarter. Sheets Smith Wealth Management now owns 9,847 shares of the oil and gas company’s stock valued at $574,000 after buying an additional 1,900 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now owns 242,932 shares in the company, valued at $11,816,212.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the transaction, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gavin Rennick sold 20,045 shares of Schlumberger stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $48.77, for a total value of $977,594.65. Following the sale, the insider now directly owns 77,563 shares of the company’s stock, valued at approximately $3,782,747.51. The disclosure for this sale can be found here. Insiders sold 76,295 shares of company stock worth $3,707,595 over the last three months. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Barclays cut their target price on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a report on Thursday, April 4th. Morgan Stanley reissued an “overweight” rating and set a $65.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Bank of America cut their price objective on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Wells Fargo & Company downgraded Schlumberger from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $68.00 to $53.00 in a research note on Monday. Finally, HSBC restated a “buy” rating and issued a $71.00 price target on shares of Schlumberger in a report on Thursday, April 4th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $68.72.

Schlumberger Trading Down 0.5 %

Schlumberger stock opened at $49.20 on Monday. The stock has a 50-day simple moving average of $51.74 and a 200 day simple moving average of $52.08. The stock has a market capitalization of $70.32 billion, a P/E ratio of 16.35, a PEG ratio of 0.95 and a beta of 1.60. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. Schlumberger Limited has a 52 week low of $42.73 and a 52 week high of $62.12.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. During the same period in the previous year, the company posted $0.63 EPS. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. Analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a $0.275 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 2.24%. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio is currently 36.54%.

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.