Twin Capital Management Inc. Invests $1.47 Million in Schlumberger Limited (NYSE:SLB)

Twin Capital Management Inc. acquired a new stake in Schlumberger Limited (NYSE:SLB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 38,388 shares of the oil and gas company's stock, valued at approximately $1,472,000.

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

Wall Street Analysts Forecast Growth

SLB has been the subject of several recent analyst reports. Piper Sandler assumed coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a "neutral" rating and a $47.00 target price for the company. TD Cowen raised their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. BMO Capital Markets dropped their target price on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Griffin Securities cut Schlumberger from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. Finally, JPMorgan Chase & Co. increased their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. 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 company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $54.68.

Schlumberger Stock Up 4.3 %

SLB stock traded up $1.40 during midday trading on Friday, hitting $33.94. 20,882,247 shares of the company's stock were exchanged, compared to its average volume of 12,996,074. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $52.91. 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 stock has a market capitalization of $46.15 billion, a price-to-earnings ratio of 10.91, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. The firm has a 50 day moving average price of $39.99 and a 200-day moving average price of $41.03.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.86 earnings per share. On average, analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th were issued a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 3.36%. Schlumberger's payout ratio is 36.66%.

Insiders Place Their Bets

In other news, insider Bejar Carmen Rando sold 5,524 shares of the business's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction 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. The trade was a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the sale, the insider now owns 31,031 shares in the company, valued at approximately $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 have sold 315,905 shares of company stock valued at $13,609,283 over the last quarter. Insiders own 0.26% of the company's stock.

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.