Tennessee Valley Asset Management Partners Makes New Investment in Schlumberger Limited (NYSE:SLB)

Tennessee Valley Asset Management Partners acquired a new stake in shares of Schlumberger Limited (NYSE:SLB) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 1,598 shares of the oil and gas company’s stock, valued at approximately $83,000.

Several other institutional investors have also recently modified their holdings of the company. Meitav Investment House Ltd. boosted its holdings in Schlumberger by 3,585.8% during the 4th quarter. Meitav Investment House Ltd. now owns 725,362 shares of the oil and gas company’s stock valued at $37,725,000 after acquiring an additional 705,682 shares during the period. Sapient Capital LLC purchased a new stake in Schlumberger in the 4th quarter worth approximately $1,389,000. Janiczek Wealth Management LLC lifted its holdings in Schlumberger by 1,180.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after buying an additional 602 shares during the period. Cerity Partners LLC lifted its holdings in Schlumberger by 102.1% in the 4th quarter. Cerity Partners LLC now owns 107,858 shares of the oil and gas company’s stock worth $5,618,000 after buying an additional 54,499 shares during the period. Finally, Financial Counselors Inc. lifted its holdings in Schlumberger by 1.0% in the 4th quarter. Financial Counselors Inc. now owns 240,574 shares of the oil and gas company’s stock worth $12,519,000 after buying an additional 2,497 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Down 0.7 %

SLB stock opened at $49.52 on Tuesday. Schlumberger Limited has a twelve month low of $42.73 and a twelve month high of $62.12. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The firm has a market cap of $70.68 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. The business has a 50 day moving average of $51.64 and a 200 day moving average of $52.32.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 EPS. On average, research analysts forecast that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a $0.275 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.22%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the completion of the sale, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,621 shares of company stock valued at $6,691,623. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SLB shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Barclays lowered their target price on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Wells Fargo & Company raised their target price on Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. Stifel Nicolaus restated a “buy” rating and issued a $64.00 target price on shares of Schlumberger in a research note on Monday. Finally, HSBC restated a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a research note on Thursday, April 4th. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $69.67.

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.