Ellis Investment Partners LLC Has $455,000 Stock Position in Schlumberger Limited (NYSE:SLB)

Ellis Investment Partners LLC lessened its position in Schlumberger Limited (NYSE:SLB) by 12.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 11,868 shares of the oil and gas company’s stock after selling 1,694 shares during the period. Ellis Investment Partners LLC’s holdings in Schlumberger were worth $455,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in SLB. Pacer Advisors Inc. grew its stake in Schlumberger by 12,289.6% in the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after acquiring an additional 12,938,082 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Schlumberger by 20.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after acquiring an additional 1,916,851 shares during the period. Scharf Investments LLC acquired a new stake in Schlumberger in the fourth quarter valued at approximately $52,607,000. Van ECK Associates Corp grew its stake in Schlumberger by 12.7% in the fourth quarter. Van ECK Associates Corp now owns 8,103,715 shares of the oil and gas company’s stock valued at $310,696,000 after acquiring an additional 915,925 shares during the period. Finally, Weiss Asset Management LP acquired a new stake in Schlumberger in the third quarter valued at approximately $37,322,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In other news, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the transaction, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % 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 the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the transaction, the insider now owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. This trade represents a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 263,782 shares of company stock worth $11,442,229. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Performance

Shares of SLB opened at $41.75 on Monday. The firm has a market cap of $58.48 billion, a PE ratio of 13.42, a PEG ratio of 9.49 and a beta of 1.51. The stock’s fifty day moving average price is $40.08 and its two-hundred day moving average price is $42.01. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69.

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

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.73%. Schlumberger’s payout ratio is 36.66%.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of research reports. Susquehanna reduced their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. TD Cowen raised their target price on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Citigroup raised their target price on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Wells Fargo & Company dropped their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Six equities research 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 data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

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.