Beta Wealth Group Inc. Buys Shares of 103,400 Schlumberger Limited (NYSE:SLB)

Beta Wealth Group Inc. purchased a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 103,400 shares of the oil and gas company's stock, valued at approximately $3,964,000. Schlumberger accounts for approximately 1.8% of Beta Wealth Group Inc.'s investment portfolio, making the stock its 18th biggest position.

Several other hedge funds have also recently modified their holdings of SLB. Pacer Advisors Inc. increased its position in shares of Schlumberger by 12,289.6% in the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock valued at $500,082,000 after buying an additional 12,938,082 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Schlumberger by 20.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company's stock worth $470,425,000 after buying an additional 1,916,851 shares during the last quarter. Scharf Investments LLC acquired a new position in shares of Schlumberger during the 4th quarter worth $52,607,000. Van ECK Associates Corp raised its stake in shares of Schlumberger by 12.7% during the 4th quarter. Van ECK Associates Corp now owns 8,103,715 shares of the oil and gas company's stock worth $310,696,000 after buying an additional 915,925 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new position in shares of Schlumberger during the 3rd quarter worth $37,322,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SLB has been the subject of several research reports. Jefferies Financial Group cut their price target on Schlumberger from $64.00 to $61.00 and set a "buy" rating for the company in a research note on Friday, January 3rd. TD Cowen lifted their price target on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Piper Sandler began coverage on Schlumberger in a research note on Thursday, December 19th. They set a "neutral" rating and a $47.00 price target for the company. Barclays cut their target price on shares of Schlumberger from $61.00 to $53.00 and set an "overweight" rating for the company in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada reissued an "outperform" rating and issued a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Schlumberger presently has an average rating of "Moderate Buy" and an average target price of $55.81.

Insider Transactions at Schlumberger

In other news, insider Dianne B. Ralston sold 43,161 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the sale, the insider now owns 235,024 shares in the company, valued at approximately $10,331,655.04. The trade was a 15.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the sale, the director now owns 49,595 shares of the company's stock, valued at $2,179,204.30. The trade was a 33.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 263,782 shares of company stock worth $11,442,229. 0.26% of the stock is currently owned by company insiders.

Schlumberger Trading Down 2.1 %

Shares of NYSE SLB traded down $0.87 on Friday, reaching $41.73. 13,669,641 shares of the company traded hands, compared to its average volume of 14,156,785. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The company has a 50 day moving average of $40.20 and a 200 day moving average of $41.91. 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 $58.45 billion, a PE ratio of 13.42, a P/E/G ratio of 10.00 and a beta of 1.51.

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

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.73%. This is a boost from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's payout ratio is presently 36.66%.

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.