Archer Investment Corp Has $263,000 Stock Position in Schlumberger Limited (NYSE:SLB)

Archer Investment Corp lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 12.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,854 shares of the oil and gas company’s stock after purchasing an additional 762 shares during the period. Archer Investment Corp’s holdings in Schlumberger were worth $263,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky lifted its holdings in Schlumberger by 25.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after buying an additional 156,698 shares during the period. Wilmington Savings Fund Society FSB raised its position in shares of Schlumberger by 27.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after acquiring an additional 16,350 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of Schlumberger by 8.7% in the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after acquiring an additional 65,318 shares during the period. Concurrent Investment Advisors LLC boosted its holdings in Schlumberger by 269.1% in the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after acquiring an additional 14,376 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in Schlumberger by 26.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock valued at $12,880,000 after purchasing an additional 63,413 shares during the period. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SLB shares. BMO Capital Markets lowered their price objective on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Bank of America reduced their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Wells Fargo & Company dropped their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Susquehanna reduced their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Finally, Evercore ISI restated an “in-line” rating and set a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Insider Transactions at Schlumberger

In other news, insider Dianne B. Ralston sold 43,161 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the sale, the insider now directly owns 235,024 shares of the company’s stock, valued at approximately $10,331,655.04. The trade was a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the transaction, the executive vice president now owns 210,502 shares in the company, valued at $8,723,202.88. The trade was a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 263,782 shares of company stock valued at $11,442,229. 0.26% of the stock is currently owned by insiders.

Schlumberger Price Performance

SLB opened at $40.07 on Friday. Schlumberger Limited has a 12-month low of $36.52 and a 12-month 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. The stock has a fifty day simple moving average of $40.32 and a two-hundred day simple moving average of $42.36. The company has a market cap of $56.13 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 9.55 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 earnings per share. Research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors 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 of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.85%. Schlumberger’s dividend payout ratio is currently 35.37%.

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.