Parsons Capital Management Inc. RI Boosts Stake in Schlumberger Limited (NYSE:SLB)

Parsons Capital Management Inc. RI boosted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 88.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,439 shares of the oil and gas company's stock after purchasing an additional 15,706 shares during the quarter. Parsons Capital Management Inc. RI's holdings in Schlumberger were worth $1,282,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its holdings in shares of Schlumberger by 12,289.6% during 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 acquiring an additional 12,938,082 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Schlumberger by 20.6% in the 3rd 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 last quarter. Weiss Asset Management LP acquired a new stake in Schlumberger during the 3rd quarter valued at approximately $37,322,000. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Schlumberger in the 4th quarter worth about $25,481,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Schlumberger by 395.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 778,938 shares of the oil and gas company's stock worth $32,676,000 after buying an additional 621,809 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Performance

SLB stock traded down $0.81 during trading on Friday, reaching $40.21. The stock had a trading volume of 12,671,108 shares, compared to its average volume of 15,075,484. The stock's 50 day moving average is $40.58 and its two-hundred day moving average is $42.63. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The firm has a market cap of $56.32 billion, a PE ratio of 12.93, a PEG ratio of 9.70 and a beta of 1.52.

Schlumberger (NYSE:SLB - Get Free Report) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. The company 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 firm's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 EPS. As a group, equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently declared 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 annualized dividend and a yield of 2.84%. This is an increase from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger's dividend payout ratio is presently 35.37%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on SLB shares. Citigroup raised their price objective on Schlumberger from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Jefferies Financial Group lowered their target price on shares of Schlumberger from $64.00 to $61.00 and set a "buy" rating on the stock in a research note on Friday, January 3rd. Susquehanna decreased their target price on shares of Schlumberger from $60.00 to $56.00 and set a "positive" rating on the stock in a research report on Monday, October 21st. Piper Sandler began coverage on Schlumberger in a report on Thursday, December 19th. They set a "neutral" rating and a $47.00 target price for the company. Finally, Sanford C. Bernstein raised Schlumberger to a "strong-buy" rating in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $55.81.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the transaction, the executive vice president now owns 210,502 shares of the company's stock, valued at approximately $8,723,202.88. This trade represents a 22.18 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total value of $5,427,346.73. Following the sale, the executive vice president now owns 184,626 shares in the company, valued at $8,140,160.34. The trade was a 40.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,258 shares of company stock worth $11,219,004 over the last quarter. Insiders own 0.26% of the company's stock.

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.