Allstate Corp Takes $1.62 Million Position in Schlumberger Limited (NYSE:SLB)

Allstate Corp purchased a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 42,256 shares of the oil and gas company's stock, valued at approximately $1,620,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. YANKCOM Partnership acquired a new stake in Schlumberger in the fourth quarter worth about $31,000. Stonebridge Financial Group LLC purchased a new stake in Schlumberger during the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC acquired a new position in Schlumberger during the 4th quarter valued at approximately $34,000. Hager Investment Management Services LLC purchased a new position in shares of Schlumberger in the fourth quarter worth $38,000. Finally, Bogart Wealth LLC lifted its stake in shares of Schlumberger by 468.9% during the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock worth $39,000 after buying an additional 844 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Price Performance

SLB stock traded up $0.03 during trading on Wednesday, hitting $42.23. The stock had a trading volume of 16,496,123 shares, compared to its average volume of 12,245,146. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.65. The company's 50-day moving average price is $41.22 and its two-hundred day moving average price is $41.50. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The stock has a market capitalization of $57.43 billion, a P/E ratio of 13.58, a PEG ratio of 10.10 and a beta of 1.47.

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

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This is an increase from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.70%. Schlumberger's dividend payout ratio is presently 36.66%.

Insiders Place Their Bets

In other news, insider Dianne B. Ralston sold 43,161 shares of the company's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total value of $1,897,357.56. Following the transaction, the insider now owns 235,024 shares of the company's stock, valued at $10,331,655.04. This represents a 15.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the firm's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the sale, the vice president now directly owns 11,240 shares of the company's stock, valued at $496,808. The trade was a 38.38 % 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 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SLB shares. Griffin Securities lowered Schlumberger from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. Jefferies Financial Group decreased their target price on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a report on Thursday, March 27th. BMO Capital Markets cut their price target on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Piper Sandler began coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a "neutral" rating and a $47.00 price objective for the company. Finally, Stifel Nicolaus cut their price objective on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Monday, December 23rd. Six investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Schlumberger has an average rating of "Moderate Buy" and a consensus price target of $55.69.

Schlumberger 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.