Legal Advantage Investments Inc. Takes Position in Schlumberger Limited (NYSE:SLB)

Legal Advantage Investments Inc. purchased a new position in shares of Schlumberger Limited (NYSE:SLB) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 20,644 shares of the oil and gas company’s stock, valued at approximately $791,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SLB. 1832 Asset Management L.P. acquired a new position in Schlumberger during the second quarter worth approximately $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Schlumberger by 20.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after purchasing an additional 1,916,851 shares during the last quarter. Legal & General Group Plc increased its position in Schlumberger by 14.0% during the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after purchasing an additional 1,560,684 shares during the last quarter. Merewether Investment Management LP acquired a new stake in shares of Schlumberger in the second quarter worth $42,957,000. Finally, Weiss Asset Management LP acquired a new stake in shares of Schlumberger in the third quarter worth $37,322,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on SLB shares. Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. dropped their target price on shares of Schlumberger from $55.00 to $48.00 and set an “overweight” rating on the stock in a report on Thursday, January 2nd. Jefferies Financial Group dropped their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. BMO Capital Markets dropped their price objective on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Finally, Susquehanna dropped their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Six investment 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 stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $56.03.

Schlumberger Stock Performance

Shares of SLB opened at $43.58 on Tuesday. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The company has a 50-day moving average of $40.86 and a two-hundred day moving average of $42.84. The stock has a market cap of $61.54 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 3.61 and a beta of 1.52. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The company 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 business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.86 earnings per share. On average, equities research analysts expect that Schlumberger Limited will post 3.29 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

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.