Atalanta Sosnoff Capital LLC Takes $25.22 Million Position in Schlumberger Limited. (NYSE:SLB)

Atalanta Sosnoff Capital LLC purchased a new stake in Schlumberger Limited. (NYSE:SLB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 627,339 shares of the oil and gas company’s stock, valued at approximately $25,219,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Doyle Wealth Management bought a new position in Schlumberger in the second quarter valued at approximately $33,000. AllSquare Wealth Management LLC bought a new position in Schlumberger in the third quarter valued at approximately $37,000. Acima Private Wealth LLC increased its stake in Schlumberger by 34.1% in the third quarter. Acima Private Wealth LLC now owns 1,239 shares of the oil and gas company’s stock valued at $42,000 after acquiring an additional 315 shares during the last quarter. Advisors Preferred LLC bought a new position in Schlumberger in the fourth quarter valued at approximately $47,000. Finally, Savior LLC bought a new position in Schlumberger in the fourth quarter valued at approximately $51,000. Institutional investors own 76.52% of the company’s stock.

Shares of NYSE SLB traded down $0.25 during midday trading on Thursday, reaching $36.43. 11,840,601 shares of the company were exchanged, compared to its average volume of 12,447,550. The stock’s 50-day moving average price is $39.12 and its 200-day moving average price is $36.42. The stock has a market cap of $51.15 billion, a P/E ratio of -4.97, a PEG ratio of 2.79 and a beta of 1.59. Schlumberger Limited. has a one year low of $30.65 and a one year high of $48.88. The company has a quick ratio of 0.95, a current ratio of 1.19 and a debt-to-equity ratio of 0.61.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. Schlumberger had a negative net margin of 30.80% and a positive return on equity of 6.77%. The firm had revenue of $8.23 billion for the quarter, compared to analysts’ expectations of $8.16 billion. During the same quarter in the previous year, the firm posted $0.36 earnings per share. The company’s revenue was up .6% on a year-over-year basis. On average, equities research analysts anticipate that Schlumberger Limited. will post 1.6 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Wednesday, February 12th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, February 11th. This represents a $2.00 annualized dividend and a dividend yield of 5.49%. Schlumberger’s dividend payout ratio is 136.05%.

In related news, CAO Howard Guild sold 9,000 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $35.36, for a total value of $318,240.00. Also, Director Saul R. Laureles sold 4,350 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $34.72, for a total transaction of $151,032.00. The disclosure for this sale can be found here. In the last three months, insiders sold 99,735 shares of company stock worth $3,594,864. 0.48% of the stock is currently owned by insiders.

SLB has been the topic of a number of recent analyst reports. Bernstein Bank initiated coverage on shares of Schlumberger in a research note on Tuesday, January 14th. They issued an “underperform” rating and a $27.10 price objective on the stock. Citigroup lifted their price objective on shares of Schlumberger from $42.00 to $43.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Sanford C. Bernstein initiated coverage on shares of Schlumberger in a research note on Monday, January 13th. They issued an “underperform” rating and a $27.10 price objective on the stock. ValuEngine raised shares of Schlumberger from a “sell” rating to a “hold” rating in a research note on Friday, January 3rd. Finally, Morgan Stanley set a $50.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $42.71.

About Schlumberger

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

Featured Story: How is the discount rate different from the Federal Funds rate?

Want to see what other hedge funds are holding SLB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Schlumberger Limited. (NYSE:SLB).

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.