GAMMA Investing LLC Takes $584,000 Position in Schlumberger Limited (NYSE:SLB)

GAMMA Investing LLC acquired a new position in shares of Schlumberger Limited (NYSE:SLB) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 11,992 shares of the oil and gas company’s stock, valued at approximately $584,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Highland Capital Management LLC boosted its position in Schlumberger by 2,494.0% during the 4th quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock worth $5,278,000 after acquiring an additional 97,516 shares during the last quarter. Guinness Asset Management LTD boosted its holdings in shares of Schlumberger by 0.3% in the 3rd quarter. Guinness Asset Management LTD now owns 331,309 shares of the oil and gas company’s stock valued at $19,468,000 after buying an additional 965 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Schlumberger by 36.4% in the 4th quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock valued at $74,080,000 after buying an additional 380,185 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Schlumberger by 3.8% in the 3rd quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock valued at $324,000 after buying an additional 206 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Schlumberger by 6.3% in the 4th quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock valued at $31,726,000 after buying an additional 35,763 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Trading Down 1.5 %

Shares of NYSE:SLB traded down $0.74 during trading on Wednesday, reaching $48.81. The stock had a trading volume of 5,337,748 shares, compared to its average volume of 11,194,360. The firm’s fifty day moving average is $51.68 and its 200 day moving average is $52.28. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. Schlumberger Limited has a 52 week low of $42.73 and a 52 week high of $62.12. The stock has a market cap of $69.67 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 0.95 and a beta of 1.60.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter in the previous year, the company earned $0.63 EPS. Schlumberger’s quarterly revenue was up 12.6% compared to the same quarter last year. As a group, equities analysts forecast that Schlumberger Limited will post 3.5 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.25%. Schlumberger’s dividend payout ratio is presently 36.54%.

Wall Street Analysts Forecast Growth

SLB has been the subject of several research reports. Susquehanna reaffirmed a “positive” rating and set a $77.00 price target on shares of Schlumberger in a report on Monday. Morgan Stanley restated an “overweight” rating and set a $65.00 target price on shares of Schlumberger in a research note on Monday. Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday. Barclays cut their price target on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, Bank of America reduced their price objective on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday. One equities research analyst has rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $69.67.

Insiders Place Their Bets

In other news, VP Kevin Fyfe sold 20,223 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $52.05, for a total value of $1,052,607.15. Following the completion of the sale, the vice president now owns 31,198 shares in the company, valued at $1,623,855.90. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, VP Kevin Fyfe sold 20,223 shares of the stock in a transaction dated Thursday, January 25th. The shares were sold at an average price of $52.05, for a total transaction of $1,052,607.15. Following the completion of the transaction, the vice president now owns 31,198 shares in the company, valued at $1,623,855.90. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the transaction, the chief financial officer now owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 110,768 shares of company stock worth $5,511,037. Insiders own 0.26% of the company’s stock.

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.