GeoWealth Management LLC Buys 4,641 Shares of Schlumberger Limited (NYSE:SLB)

GeoWealth Management LLC increased its position in Schlumberger Limited (NYSE:SLB) by 106.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,001 shares of the oil and gas company’s stock after buying an additional 4,641 shares during the period. GeoWealth Management LLC’s holdings in Schlumberger were worth $345,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SLB. YANKCOM Partnership acquired a new stake in Schlumberger in the 4th quarter valued at $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Schlumberger during the fourth quarter valued at approximately $32,000. Golden State Wealth Management LLC bought a new stake in Schlumberger during the fourth quarter worth $34,000. Hager Investment Management Services LLC purchased a new stake in Schlumberger in the 4th quarter valued at $38,000. Finally, Bogart Wealth LLC lifted its stake in Schlumberger by 468.9% during the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 844 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Schlumberger Price Performance

SLB stock opened at $34.62 on Tuesday. The firm has a 50 day moving average of $39.21 and a 200-day moving average of $40.65. 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 firm has a market capitalization of $47.08 billion, a P/E ratio of 11.13, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $50.94.

Analyst Upgrades and Downgrades

Several research firms have commented on SLB. BMO Capital Markets decreased their price objective on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. TD Cowen increased their price target on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Jefferies Financial Group cut their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. JPMorgan Chase & Co. raised their target price on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Barclays cut their price target on shares of Schlumberger from $54.00 to $53.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $54.15.

Insider Activity

In other news, insider Gavin Rennick sold 26,990 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value of $1,104,430.80. Following the transaction, the insider now owns 53,584 shares of the company’s stock, valued at $2,192,657.28. This represents a 33.50 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the sale, the insider now directly owns 31,031 shares of the company’s stock, valued at $1,311,990.68. This represents a 44.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 117,647 shares of company stock worth $4,876,679 in the last three months. Corporate insiders own 0.26% of the company’s stock.

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.