Personal CFO Solutions LLC acquired a new position in Schlumberger Limited (NYSE:SLB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 23,045 shares of the oil and gas company's stock, valued at approximately $884,000.
Several other hedge funds have also recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky increased its position in Schlumberger by 25.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company's stock worth $31,961,000 after purchasing an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in Schlumberger by 27.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock worth $3,223,000 after purchasing an additional 16,350 shares during the last quarter. Victory Capital Management Inc. increased its position in Schlumberger by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company's stock worth $34,305,000 after purchasing an additional 65,318 shares during the last quarter. Bryn Mawr Capital Management LLC increased its position in Schlumberger by 502.6% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company's stock worth $7,592,000 after purchasing an additional 165,162 shares during the last quarter. Finally, Concurrent Investment Advisors LLC increased its position in Schlumberger by 269.1% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company's stock worth $827,000 after purchasing an additional 14,376 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have weighed in on the company. Stifel Nicolaus dropped their target price on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Monday, December 23rd. Piper Sandler began coverage on Schlumberger in a report on Thursday, December 19th. They set a "neutral" rating and a $47.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a report on Tuesday, January 21st. Jefferies Financial Group lowered their price objective on Schlumberger from $64.00 to $61.00 and set a "buy" rating on the stock in a report on Friday, January 3rd. Finally, Wells Fargo & Company lowered their price objective on Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 17th. Six research 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, Schlumberger currently has an average rating of "Moderate Buy" and a consensus price target of $55.81.
Read Our Latest Analysis on Schlumberger
Schlumberger Trading Up 4.0 %
Schlumberger stock traded up $1.60 during trading hours on Friday, reaching $41.36. 19,613,595 shares of the company's stock were exchanged, compared to its average volume of 14,443,572. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The firm's 50 day simple moving average is $40.73 and its 200 day simple moving average is $41.63. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The firm has a market capitalization of $56.25 billion, a PE ratio of 13.30, a PEG ratio of 10.10 and a beta of 1.47.
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 (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business's revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. Research analysts predict 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. Investors of record on Wednesday, February 5th will be given a $0.285 dividend. This is a boost from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.76%. Schlumberger's dividend payout ratio (DPR) is presently 36.66%.
Insider Activity at Schlumberger
In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 184,626 shares in the company, valued at approximately $8,140,160.34. This represents a 40.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 290,772 shares of company stock valued at $12,546,660. 0.26% of the stock is owned by corporate insiders.
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.
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