Guardian Investment Management Takes Position in Schlumberger Limited (NYSE:SLB)

Guardian Investment Management acquired a new stake in Schlumberger Limited (NYSE:SLB - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 31,700 shares of the oil and gas company's stock, valued at approximately $1,215,000.

Several other hedge funds have also added to or reduced their stakes in the business. ORG Partners LLC increased its position in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 484 shares during the period. Prospera Private Wealth LLC bought a new position in Schlumberger during the third quarter worth $29,000. Ashton Thomas Securities LLC acquired a new position in Schlumberger in the third quarter valued at $37,000. DiNuzzo Private Wealth Inc. boosted its position in Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company's stock valued at $40,000 after acquiring an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in Schlumberger during the 3rd quarter worth about $47,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. BMO Capital Markets decreased their target price on Schlumberger from $53.00 to $48.00 in a research note on Thursday. Jefferies Financial Group reduced their price objective on shares of Schlumberger from $64.00 to $61.00 and set a "buy" rating for the company in a research report on Friday, January 3rd. Sanford C. Bernstein upgraded shares of Schlumberger to a "strong-buy" rating in a research report on Tuesday, November 12th. Royal Bank of Canada restated an "outperform" rating and issued a $69.00 price target on shares of Schlumberger in a report on Thursday, October 3rd. Finally, Piper Sandler initiated coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a "neutral" rating and a $47.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $56.03.

Schlumberger Stock Up 6.1 %

NYSE:SLB traded up $2.49 on Monday, hitting $43.58. The stock had a trading volume of 30,717,717 shares, compared to its average volume of 10,770,376. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The firm's fifty day simple moving average is $40.86 and its two-hundred day simple moving average is $42.84. The stock has a market cap of $61.54 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48.

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 analysts' consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9,241,140 billion. During the same period last year, the company posted $0.86 earnings per share. Schlumberger's quarterly revenue was up 3.3% compared to the same quarter last year. Analysts predict that Schlumberger Limited will post 3.39 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 paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 2.62%. This is a boost from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger's payout ratio is presently 35.37%.

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.