Spire Wealth Management Acquires 3,243 Shares of Schlumberger Limited (NYSE:SLB)

Spire Wealth Management lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 3.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 110,588 shares of the oil and gas company’s stock after acquiring an additional 3,243 shares during the quarter. Spire Wealth Management’s holdings in Schlumberger were worth $5,490,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLB. BluePath Capital Management LLC acquired a new stake in Schlumberger during the 3rd quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Schlumberger during the 4th quarter worth approximately $26,000. Janiczek Wealth Management LLC lifted its holdings in Schlumberger by 1,180.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 602 shares during the last quarter. Pinnacle Bancorp Inc. lifted its holdings in Schlumberger by 64.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 292 shares during the last quarter. Finally, Legacy Bridge LLC lifted its holdings in Schlumberger by 39.4% during the 4th quarter. Legacy Bridge LLC now owns 853 shares of the oil and gas company’s stock worth $44,000 after purchasing an additional 241 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

SLB has been the subject of several research reports. Bank of America dropped their price target on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday, April 22nd. HSBC reaffirmed a “buy” rating and issued a $71.00 price objective on shares of Schlumberger in a report on Thursday, April 4th. Wells Fargo & Company cut Schlumberger from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $68.00 to $53.00 in a report on Monday, April 29th. TD Cowen dropped their price objective on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Finally, Royal Bank of Canada lifted their price objective on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $68.72.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of the 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 sale, the chief financial officer now owns 242,932 shares in the company, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Schlumberger Trading Up 0.7 %

Shares of Schlumberger stock traded up $0.31 on Monday, reaching $47.97. 9,857,742 shares of the company’s stock were exchanged, compared to its average volume of 11,153,605. The company has a market capitalization of $68.57 billion, a P/E ratio of 15.94, a price-to-earnings-growth ratio of 0.92 and a beta of 1.64. Schlumberger Limited has a 52 week low of $42.73 and a 52 week high of $62.12. The firm’s 50-day moving average is $51.63 and its two-hundred day moving average is $51.67. 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 (NYSE:SLB) last announced its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.75. The company had revenue of $8.71 billion for the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. Schlumberger’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.63 earnings per share. Sell-side analysts predict that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a $0.275 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.29%. Schlumberger’s dividend payout ratio is presently 36.54%.

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.