Isthmus Partners LLC Has $8.74 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Isthmus Partners LLC trimmed its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 13.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 227,913 shares of the oil and gas company's stock after selling 34,086 shares during the period. Isthmus Partners LLC's holdings in Schlumberger were worth $8,738,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. boosted its position in shares of Schlumberger by 12,289.6% in the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock worth $500,082,000 after purchasing an additional 12,938,082 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Schlumberger by 20.6% in the third 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 valued at $470,425,000 after buying an additional 1,916,851 shares during the period. Scharf Investments LLC bought a new position in Schlumberger during the fourth quarter worth about $52,607,000. OFI Invest Asset Management acquired a new position in shares of Schlumberger during the 4th quarter worth about $48,461,000. Finally, AMF Tjanstepension AB increased its stake in shares of Schlumberger by 273.3% in the 4th quarter. AMF Tjanstepension AB now owns 1,338,376 shares of the oil and gas company's stock valued at $51,384,000 after acquiring an additional 979,820 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

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Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SLB. Griffin Securities cut shares of Schlumberger from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. Jefferies Financial Group reduced their price target on shares of Schlumberger from $64.00 to $61.00 and set a "buy" rating on the stock in a research report on Friday, January 3rd. Barclays lowered their price objective on shares of Schlumberger from $61.00 to $53.00 and set an "overweight" rating for the company in a research report on Wednesday, December 18th. JPMorgan Chase & Co. raised their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research note on Tuesday, January 21st. Finally, Piper Sandler began coverage on Schlumberger in a report on Thursday, December 19th. They set a "neutral" rating and a $47.00 target price on the stock. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $55.81.

Schlumberger Stock Down 2.3 %

SLB traded down $0.94 during trading hours on Tuesday, hitting $40.20. 8,538,043 shares of the company's stock were exchanged, compared to its average volume of 14,396,784. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69. The stock's 50-day moving average is $40.80 and its two-hundred day moving average is $41.61. The stock has a market cap of $54.67 billion, a price-to-earnings ratio of 12.96, a PEG ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company's quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 EPS. Sell-side analysts predict 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. Investors of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 2.84%. This is an increase from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger's payout ratio is presently 36.66%.

Insider Activity

In other Schlumberger 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 transaction of $1,098,500.00. Following the completion of the sale, the director now owns 49,595 shares of the company's stock, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dianne B. Ralston sold 43,161 shares of the company's stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the transaction, the insider now owns 235,024 shares in the company, valued at approximately $10,331,655.04. This represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 290,772 shares of company stock valued at $12,546,660. 0.26% of the stock is owned by company insiders.

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.