Crossmark Global Holdings Inc. Increases Stock Position in Schlumberger Limited (NYSE:SLB)

Crossmark Global Holdings Inc. boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 265.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 220,454 shares of the oil and gas company’s stock after acquiring an additional 160,049 shares during the period. Crossmark Global Holdings Inc.’s holdings in Schlumberger were worth $8,453,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its holdings in Schlumberger by 4.7% in the 2nd quarter. Pacer Advisors Inc. now owns 100,979 shares of the oil and gas company’s stock worth $4,764,000 after purchasing an additional 4,575 shares during the period. Sei Investments Co. raised its stake in shares of Schlumberger by 1.8% during the 2nd quarter. Sei Investments Co. now owns 392,899 shares of the oil and gas company’s stock worth $18,537,000 after buying an additional 6,998 shares during the period. ProShare Advisors LLC lifted its position in shares of Schlumberger by 9.1% during the 2nd quarter. ProShare Advisors LLC now owns 313,292 shares of the oil and gas company’s stock valued at $14,781,000 after buying an additional 26,090 shares in the last quarter. Frank Rimerman Advisors LLC grew its stake in Schlumberger by 45,577.8% in the 2nd quarter. Frank Rimerman Advisors LLC now owns 8,222 shares of the oil and gas company’s stock valued at $388,000 after acquiring an additional 8,204 shares during the period. Finally, Interval Partners LP acquired a new position in Schlumberger during the second quarter worth $5,820,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 0.4 %

Shares of Schlumberger stock opened at $43.76 on Wednesday. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. 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 firm has a market capitalization of $61.80 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 3.61 and a beta of 1.52. The stock has a 50 day moving average of $40.84 and a 200 day moving average of $42.81.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data 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 firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9,241,140 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 EPS. As a group, research analysts predict that Schlumberger Limited will post 3.29 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.60%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

Analyst Upgrades and Downgrades

SLB has been the topic of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a research report on Tuesday. Susquehanna cut their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. JPMorgan Chase & Co. raised their target price on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday. TD Cowen boosted their price target on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Citigroup raised their price objective on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $55.81.

Insider Activity at Schlumberger

In other news, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the sale, the vice president now directly owns 11,240 shares of the company’s stock, valued at approximately $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction 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 owns 49,595 shares in the company, valued at $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 258,258 shares of company stock worth $11,246,604. Insiders own 0.26% of the company’s stock.

About Schlumberger

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.