John G Ullman & Associates Inc. reduced its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 8.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 299,704 shares of the oil and gas company's stock after selling 29,000 shares during the quarter. Schlumberger accounts for 1.7% of John G Ullman & Associates Inc.'s portfolio, making the stock its 13th largest position. John G Ullman & Associates Inc.'s holdings in Schlumberger were worth $11,491,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of SLB. Pacer Advisors Inc. boosted its stake 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 purchasing an additional 12,938,082 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 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 purchasing an additional 1,916,851 shares during the period. Scharf Investments LLC purchased a new position in shares of Schlumberger in the fourth quarter valued at $52,607,000. Van ECK Associates Corp boosted its stake in shares of Schlumberger by 12.7% in the fourth quarter. Van ECK Associates Corp now owns 8,103,715 shares of the oil and gas company's stock valued at $310,696,000 after purchasing an additional 915,925 shares during the period. Finally, Weiss Asset Management LP purchased a new position in shares of Schlumberger in the third quarter valued at $37,322,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on the stock. Griffin Securities downgraded shares of Schlumberger from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. Royal Bank of Canada restated an "outperform" rating and issued a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. BMO Capital Markets cut their price target on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Jefferies Financial Group cut their price target on shares of Schlumberger from $64.00 to $61.00 and set a "buy" rating on the stock in a report on Friday, January 3rd. Finally, TD Cowen upped their price target on shares of Schlumberger from $53.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $55.81.
Check Out Our Latest Stock Report on SLB
Schlumberger Stock Performance
Shares of Schlumberger stock traded up $0.39 during trading on Wednesday, hitting $39.47. 13,651,038 shares of the stock were exchanged, compared to its average volume of 14,370,351. The stock's fifty day moving average is $40.62 and its 200 day moving average is $41.70. The stock has a market cap of $53.67 billion, a PE ratio of 12.69, a P/E/G ratio of 10.10 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69.
Schlumberger (NYSE:SLB - Get Free Report) last released 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. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the firm earned $0.86 earnings per share. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.
Schlumberger Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.89%. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio is currently 36.66%.
Insider Transactions at Schlumberger
In related news, insider Dianne B. Ralston sold 43,161 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the transaction, the insider now owns 235,024 shares in the company, valued at $10,331,655.04. This represents a 15.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the transaction, the insider now owns 53,584 shares of the company's stock, valued at $2,192,657.28. This represents a 33.50 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 290,772 shares of company stock worth $12,546,660. Insiders own 0.26% of the company's stock.
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.
See Also
Before you consider Schlumberger, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Schlumberger wasn't on the list.
While Schlumberger currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
