Geneos Wealth Management Inc. Buys 4,603 Shares of Schlumberger Limited (NYSE:SLB)

Geneos Wealth Management Inc. raised its position in Schlumberger Limited (NYSE:SLB) by 9.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 51,792 shares of the oil and gas company’s stock after buying an additional 4,603 shares during the period. Geneos Wealth Management Inc.’s holdings in Schlumberger were worth $1,986,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLB. Grove Bank & Trust lifted its holdings in Schlumberger by 17.4% during the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after purchasing an additional 224 shares during the last quarter. M&R Capital Management Inc. increased its position in Schlumberger by 1.7% during the 3rd quarter. M&R Capital Management Inc. now owns 14,817 shares of the oil and gas company’s stock worth $622,000 after buying an additional 241 shares during the period. CX Institutional lifted its holdings in shares of Schlumberger by 2.4% during the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock worth $398,000 after buying an additional 244 shares in the last quarter. GM Advisory Group LLC boosted its position in shares of Schlumberger by 3.8% in the third quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock valued at $281,000 after acquiring an additional 247 shares during the period. Finally, Cordatus Wealth Management LLC grew its stake in shares of Schlumberger by 2.1% in the third quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock valued at $561,000 after acquiring an additional 281 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Price Performance

Shares of SLB opened at $42.30 on Monday. The business has a 50-day simple moving average of $40.74 and a two-hundred day simple moving average of $42.74. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The stock has a market cap of $59.73 billion, a PE ratio of 13.60, a PEG ratio of 9.98 and a beta of 1.52. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last issued 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. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9,241,140 billion. During the same quarter last year, the business earned $0.86 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts anticipate that Schlumberger Limited will post 3.34 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.70%. The ex-dividend date of this dividend 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%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Bank of America dropped their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. TD Cowen boosted their price target on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Evercore ISI reiterated an “in-line” rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a research report on Tuesday, January 21st. Six equities research 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 company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.81.

Insider Buying and Selling

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the transaction, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the sale, the vice president now directly owns 11,240 shares in the company, valued at approximately $496,808. This represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 198,258 shares of company stock valued at $8,732,604 over the last 90 days. 0.26% of the stock is owned by insiders.

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.