Clearbridge Investments LLC Raises Holdings in Schlumberger Limited (NYSE:SLB)

Clearbridge Investments LLC grew its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 43,028.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,652,804 shares of the oil and gas company's stock after buying an additional 2,646,653 shares during the quarter. Clearbridge Investments LLC owned 0.19% of Schlumberger worth $101,708,000 at the end of the most recent reporting period.

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

Schlumberger Stock Up 0.1 %

NYSE SLB traded up $0.03 on Wednesday, hitting $42.23. The stock had a trading volume of 16,496,123 shares, compared to its average volume of 12,220,085. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.65. The business's fifty day moving average price is $41.23 and its 200 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 cap of $57.43 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47.

Remove Ads

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion for 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 firm's revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.86 EPS. Equities research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently announced 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 annualized dividend and a yield of 2.70%. 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 currently 36.66%.

Insider Buying and Selling at Schlumberger

In related news, Director Vijay Kasibhatla sold 25,000 shares of the firm's stock in a transaction on 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 completion of the transaction, the director now owns 49,595 shares in the company, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the sale, the insider now owns 31,031 shares in the company, valued at approximately $1,311,990.68. The trade was a 44.75 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 315,905 shares of company stock worth $13,609,283. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. Stifel Nicolaus cut their price target on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, December 23rd. TD Cowen increased their price target on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Piper Sandler assumed 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. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. lifted their target price on Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $55.69.

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.