Red Cedar Investment Management LLC Acquires 1,369 Shares of Schlumberger Limited (NYSE:SLB)

Red Cedar Investment Management LLC grew its stake in Schlumberger Limited (NYSE:SLB) by 6.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 21,242 shares of the oil and gas company’s stock after acquiring an additional 1,369 shares during the quarter. Red Cedar Investment Management LLC’s holdings in Schlumberger were worth $1,105,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SLB. BluePath Capital Management LLC purchased a new stake in shares of Schlumberger during the 3rd quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Schlumberger in the fourth quarter valued at about $26,000. Janiczek Wealth Management LLC raised its stake in Schlumberger by 1,180.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 602 shares during the period. Pinnacle Bancorp Inc. lifted its holdings in Schlumberger by 64.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 292 shares in the last quarter. Finally, Motco boosted its stake in Schlumberger by 52.7% in the 3rd quarter. Motco now owns 823 shares of the oil and gas company’s stock worth $48,000 after purchasing an additional 284 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

SLB has been the topic of several research analyst reports. Benchmark reissued a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Bank of America dropped their price objective on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada lifted their target price on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. Barclays dropped 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, TD Cowen reduced their price objective on Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $68.72.

Insider Activity

In other news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were 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 in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Stephane Biguet sold 6,250 shares of the business’s 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 transaction, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 0.2 %

Schlumberger stock traded up $0.08 during midday trading on Friday, reaching $47.66. The stock had a trading volume of 11,007,407 shares, compared to its average volume of 9,961,223. Schlumberger Limited has a 52-week low of $42.73 and a 52-week high of $62.12. The company has a fifty day moving average of $51.63 and a 200 day moving average of $51.79. The firm has a market cap of $68.12 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 0.92 and a beta of 1.64. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The firm 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%. Schlumberger’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the company earned $0.63 EPS. On average, analysts anticipate that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company 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 represents a $1.10 annualized dividend and a dividend yield of 2.31%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio is currently 36.54%.

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.