Alpha Cubed Investments LLC Has $7.86 Million Position in Schlumberger Limited (NYSE:SLB)

Alpha Cubed Investments LLC grew its stake in Schlumberger Limited (NYSE:SLB) by 4,197.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 205,005 shares of the oil and gas company’s stock after buying an additional 200,235 shares during the period. Alpha Cubed Investments LLC’s holdings in Schlumberger were worth $7,860,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SLB. Seven Eight Capital LP bought a new stake in shares of Schlumberger in the 2nd quarter valued at $385,000. Pacer Advisors Inc. lifted its stake in shares of Schlumberger by 4.7% in the 2nd quarter. Pacer Advisors Inc. now owns 100,979 shares of the oil and gas company’s stock valued at $4,764,000 after purchasing an additional 4,575 shares during the period. Sei Investments Co. grew its stake in Schlumberger by 1.8% during the second quarter. Sei Investments Co. now owns 392,899 shares of the oil and gas company’s stock worth $18,537,000 after purchasing an additional 6,998 shares during the period. Summit Trail Advisors LLC lifted its stake in Schlumberger by 42.7% in the second quarter. Summit Trail Advisors LLC now owns 16,381 shares of the oil and gas company’s stock valued at $777,000 after buying an additional 4,898 shares during the period. Finally, Ensign Peak Advisors Inc lifted its stake in Schlumberger by 22.1% in the second quarter. Ensign Peak Advisors Inc now owns 605,173 shares of the oil and gas company’s stock valued at $28,552,000 after buying an additional 109,470 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Stifel Nicolaus dropped their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Barclays reduced their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Susquehanna decreased their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Finally, Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Six investment 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.03.

Schlumberger Stock Up 6.1 %

Shares of SLB opened at $43.58 on Tuesday. Schlumberger Limited has a 1 year low of $36.52 and a 1 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 stock has a 50 day simple moving average of $40.84 and a two-hundred day simple moving average of $42.81. The firm has a market cap of $61.54 billion, a P/E ratio of 14.01, a P/E/G ratio of 3.61 and a beta of 1.52.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. On average, analysts forecast that Schlumberger Limited will post 3.29 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. Stockholders of record on Wednesday, February 5th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is 35.37%.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the sale, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by company insiders.

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.