Jones Financial Companies Lllp Boosts Stake in Schlumberger Limited (NYSE:SLB)

Jones Financial Companies Lllp raised its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 69.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 44,662 shares of the oil and gas company's stock after buying an additional 18,255 shares during the period. Jones Financial Companies Lllp's holdings in Schlumberger were worth $1,712,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Prospera Private Wealth LLC purchased a new stake in shares of Schlumberger in the 3rd quarter worth approximately $29,000. YANKCOM Partnership purchased a new stake in shares of Schlumberger in the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Schlumberger in the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC purchased a new stake in shares of Schlumberger in the 4th quarter worth approximately $34,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Schlumberger in the 3rd quarter worth approximately $37,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the sale, the executive vice president now directly owns 210,502 shares of the company's stock, valued at approximately $8,723,202.88. This represents a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the sale, the executive vice president now directly owns 184,626 shares in the company, valued at $8,140,160.34. This trade represents a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 290,772 shares of company stock worth $12,546,660 over the last 90 days. 0.26% of the stock is currently owned by company insiders.

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Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on SLB shares. Jefferies Financial Group lowered their price target 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. BMO Capital Markets lowered their price target on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Evercore ISI reaffirmed an "in-line" rating and issued a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Atb Cap Markets cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Finally, TD Cowen increased their target price on shares of Schlumberger from $53.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Schlumberger presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.81.

Schlumberger Stock Performance

Schlumberger stock traded up $1.60 during mid-day trading on Friday, reaching $41.36. 19,613,595 shares of the company traded hands, compared to its average volume of 14,443,572. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The company has a market capitalization of $56.25 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The firm's fifty day moving average is $40.73 and its two-hundred day moving average is $41.63.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion for 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 business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 earnings per share. On average, equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.76%. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio is presently 36.66%.

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.