Fortitude Advisory Group L.L.C. Makes New $363,000 Investment in Schlumberger Limited (NYSE:SLB)

Fortitude Advisory Group L.L.C. acquired a new stake in Schlumberger Limited (NYSE:SLB) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 9,465 shares of the oil and gas company’s stock, valued at approximately $363,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLB. Lebenthal Global Advisors LLC lifted its stake in Schlumberger by 6.1% during the fourth quarter. Lebenthal Global Advisors LLC now owns 10,065 shares of the oil and gas company’s stock worth $386,000 after purchasing an additional 576 shares during the period. Parsons Capital Management Inc. RI grew its position in Schlumberger by 88.6% during the 4th quarter. Parsons Capital Management Inc. RI now owns 33,439 shares of the oil and gas company’s stock worth $1,282,000 after acquiring an additional 15,706 shares during the last quarter. Mount Yale Investment Advisors LLC increased its holdings in Schlumberger by 166.3% during the 4th quarter. Mount Yale Investment Advisors LLC now owns 105,721 shares of the oil and gas company’s stock valued at $4,053,000 after purchasing an additional 66,016 shares in the last quarter. Pacer Advisors Inc. raised its position in Schlumberger by 12,289.6% in the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after purchasing an additional 12,938,082 shares during the last quarter. Finally, United Asset Strategies Inc. acquired a new position in Schlumberger in the fourth quarter worth $713,000. 81.99% of the stock is owned by institutional investors.

Schlumberger Price Performance

Shares of NYSE SLB opened at $42.55 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The business’s 50 day moving average price is $40.74 and its two-hundred day moving average price is $42.72. The company has a market cap of $60.08 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 9.98 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 earnings per share. On average, analysts predict that Schlumberger Limited will post 3.34 EPS for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders 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 is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.68%. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Insider Transactions at Schlumberger

In related news, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the transaction, the vice president now directly owns 11,240 shares in the company, valued at approximately $496,808. This represents a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the sale, the director now owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 198,258 shares of company stock worth $8,732,604 over the last quarter. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SLB. Barclays cut their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. BMO Capital Markets decreased their price target on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Piper Sandler began coverage on shares of Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, Citigroup raised their price target on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $55.81.

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.