Hourglass Capital LLC Has $8.41 Million Stake in Schlumberger Limited (NYSE:SLB)

Hourglass Capital LLC raised its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 22.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 219,345 shares of the oil and gas company's stock after purchasing an additional 39,675 shares during the period. Schlumberger accounts for approximately 2.3% of Hourglass Capital LLC's holdings, making the stock its 9th biggest holding. Hourglass Capital LLC's holdings in Schlumberger were worth $8,410,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its stake in shares of Schlumberger by 205.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 15,636 shares of the oil and gas company's stock worth $656,000 after acquiring an additional 10,520 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Schlumberger by 2.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 169,243 shares of the oil and gas company's stock valued at $7,100,000 after buying an additional 3,882 shares in the last quarter. V Square Quantitative Management LLC grew its stake in shares of Schlumberger by 11.8% in the third quarter. V Square Quantitative Management LLC now owns 26,554 shares of the oil and gas company's stock valued at $1,114,000 after buying an additional 2,812 shares in the last quarter. Stonegate Investment Group LLC grew its stake in shares of Schlumberger by 101.1% in the third quarter. Stonegate Investment Group LLC now owns 22,653 shares of the oil and gas company's stock valued at $950,000 after buying an additional 11,390 shares in the last quarter. Finally, Stratos Investment Management LLC lifted its holdings in Schlumberger by 6.0% during the 3rd quarter. Stratos Investment Management LLC now owns 70,427 shares of the oil and gas company's stock valued at $2,954,000 after purchasing an additional 4,014 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 123,097 shares of the company's 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 completion of the sale, the executive vice president now owns 184,626 shares in the company, valued at approximately $8,140,160.34. This represents a 40.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the company's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the sale, the insider now owns 30,829 shares of the company's stock, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 263,782 shares of company stock valued at $11,442,229 over the last ninety days. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Atb Cap Markets downgraded Schlumberger from a "strong-buy" rating to a "hold" rating in a report on Tuesday, December 10th. Barclays decreased their target price on Schlumberger from $61.00 to $53.00 and set an "overweight" rating on the stock in a research report on Wednesday, December 18th. Wells Fargo & Company decreased their target price on Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Tuesday, December 17th. Piper Sandler initiated coverage on Schlumberger in a report on Thursday, December 19th. They set a "neutral" rating and a $47.00 price target on the stock. Finally, Citigroup boosted their price target on Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.81.

Schlumberger Stock Down 1.1 %

Shares of NYSE:SLB traded down $0.46 during trading on Wednesday, reaching $42.19. 12,748,736 shares of the stock were exchanged, compared to its average volume of 14,301,848. 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 1-year low of $36.52 and a 1-year high of $55.69. The stock has a fifty day moving average of $40.12 and a two-hundred day moving average of $41.91. The firm has a market cap of $59.10 billion, a price-to-earnings ratio of 13.56, a price-to-earnings-growth ratio of 9.90 and a beta of 1.51.

Schlumberger (NYSE:SLB - Get Free Report) last issued its earnings results 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. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same period in the prior year, the firm earned $0.86 earnings per share. Schlumberger's revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts anticipate 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. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.70%. This is a positive change 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 36.66%.

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.