Schlumberger Limited (NYSE:SLB) Holdings Boosted by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 8.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 254,930 shares of the oil and gas company’s stock after purchasing an additional 18,804 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Schlumberger were worth $9,774,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SLB. Prospera Private Wealth LLC acquired a new position in Schlumberger during the 3rd quarter worth $29,000. YANKCOM Partnership acquired a new position in Schlumberger during the 4th quarter worth $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger during the 4th quarter worth $32,000. Golden State Wealth Management LLC acquired a new position in Schlumberger during the 4th quarter worth $34,000. Finally, Hager Investment Management Services LLC acquired a new position in Schlumberger during the 4th quarter worth $38,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Price Performance

SLB opened at $41.42 on Tuesday. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company’s 50 day simple moving average is $41.00 and its 200-day simple moving average is $41.46. The stock has a market capitalization of $56.32 billion, a P/E ratio of 13.32, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same period in the prior year, the business posted $0.86 earnings per share. Schlumberger’s revenue was up 3.3% compared to the same quarter last year. Sell-side analysts anticipate that Schlumberger Limited will post 3.38 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. Investors of record on Wednesday, February 5th will be issued a $0.285 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio is currently 36.66%.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of research analyst reports. Barclays cut their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. TD Cowen upped their target price on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Jefferies Financial Group lowered their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Citigroup upped 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. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Insider Activity at Schlumberger

In related news, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the completion of the transaction, the executive vice president now owns 184,626 shares in the company, valued at $8,140,160.34. This represents a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 290,772 shares of company stock worth $12,546,660 over the last ninety days. Company insiders own 0.26% of the company’s stock.

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.