Ashton Thomas Securities LLC grew its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 2,258.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,753 shares of the oil and gas company's stock after purchasing an additional 19,873 shares during the period. Ashton Thomas Securities LLC's holdings in Schlumberger were worth $796,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Teachers Retirement System of The State of Kentucky raised its position in Schlumberger by 25.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company's stock worth $31,961,000 after buying an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB raised its holdings in Schlumberger by 27.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock worth $3,223,000 after purchasing an additional 16,350 shares in the last quarter. Bryn Mawr Capital Management LLC lifted its position in Schlumberger by 502.6% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company's stock valued at $7,592,000 after purchasing an additional 165,162 shares during the period. Narwhal Capital Management boosted its holdings in Schlumberger by 225.5% in the 4th quarter. Narwhal Capital Management now owns 74,645 shares of the oil and gas company's stock valued at $2,862,000 after purchasing an additional 51,715 shares in the last quarter. Finally, Czech National Bank increased its position in Schlumberger by 5.8% during the 4th quarter. Czech National Bank now owns 306,183 shares of the oil and gas company's stock worth $11,739,000 after purchasing an additional 16,914 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.
Analysts Set New Price Targets
A number of brokerages recently weighed in on SLB. BMO Capital Markets dropped their price objective on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Piper Sandler initiated coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a "neutral" rating and a $47.00 price target for the company. Citigroup upped their target price on shares of Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Jefferies Financial Group decreased their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Thursday. Finally, Griffin Securities lowered Schlumberger from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Schlumberger has a consensus rating of "Moderate Buy" and a consensus price target of $55.69.
Read Our Latest Research Report on Schlumberger
Insiders Place Their Bets
In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the sale, the executive vice president now owns 210,502 shares of the company's stock, valued at approximately $8,723,202.88. This represents a 22.18 % decrease in their position. The transaction 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 that occurred 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 transaction, the insider now directly owns 30,829 shares in the company, 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. Insiders sold 290,772 shares of company stock worth $12,546,660 over the last three months. 0.26% of the stock is owned by insiders.
Schlumberger Trading Down 0.6 %
SLB traded down $0.24 during midday trading on Friday, hitting $41.87. The company's stock had a trading volume of 12,887,648 shares, compared to its average volume of 12,188,001. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.65. The firm has a 50-day moving average price of $41.29 and a two-hundred day moving average price of $41.46. 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 cap of $56.93 billion, a P/E ratio of 13.46, a PEG ratio of 10.10 and a beta of 1.47.
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 net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. During the same quarter in the prior year, the business posted $0.86 earnings per share. Schlumberger's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.
Schlumberger Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 2.72%. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's payout ratio is 36.66%.
About Schlumberger
(
Free Report)
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.
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