Hanson & Doremus Investment Management Grows Holdings in Schlumberger Limited (NYSE:SLB)

Hanson & Doremus Investment Management raised its position in Schlumberger Limited (NYSE:SLB) by 5.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,281 shares of the oil and gas company’s stock after buying an additional 3,623 shares during the period. Hanson & Doremus Investment Management’s holdings in Schlumberger were worth $2,503,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. ORG Partners LLC boosted its stake in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of Schlumberger during the third quarter worth about $29,000. Ashton Thomas Securities LLC acquired a new position in Schlumberger in the third quarter worth about $37,000. DiNuzzo Private Wealth Inc. increased its holdings in Schlumberger by 1,068.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in Schlumberger during the third quarter valued at approximately $47,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the transaction, the insider now directly owns 235,024 shares of the company’s stock, valued at $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares of the company’s stock, valued at approximately $496,808. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 258,258 shares of company stock worth $11,219,004. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 1.1 %

SLB stock opened at $40.87 on Thursday. The firm’s 50-day moving average is $40.69 and its two-hundred day moving average is $42.66. The company has a market capitalization of $57.71 billion, a price-to-earnings ratio of 13.14, a price-to-earnings-growth ratio of 9.98 and a beta of 1.52. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts forecast that Schlumberger Limited will post 3.34 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.79%. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Wall Street Analyst Weigh In

SLB has been the subject of a number of research analyst reports. Jefferies Financial Group lowered their price target on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Citigroup boosted their target price on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Bank of America reduced their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. lifted their target price on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $55.81.

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.