Schlumberger Limited (NYSE:SLB) Shares Acquired by Argyle Capital Management LLC

Argyle Capital Management LLC boosted its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 20.1% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 42,316 shares of the oil and gas company's stock after acquiring an additional 7,091 shares during the quarter. Argyle Capital Management LLC's holdings in Schlumberger were worth $1,622,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp boosted its position in Schlumberger by 0.6% during the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company's stock valued at $3,808,476,000 after buying an additional 528,279 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Schlumberger by 0.8% during the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company's stock worth $1,195,290,000 after purchasing an additional 239,966 shares during the period. Pacer Advisors Inc. increased its holdings in 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 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 raised its position in Schlumberger by 20.6% during 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 purchasing an additional 1,916,851 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Schlumberger by 12.7% in the 4th quarter. Van ECK Associates Corp now owns 8,103,715 shares of the oil and gas company's stock worth $310,696,000 after buying an additional 915,925 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

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Schlumberger Price Performance

SLB stock traded down $0.77 during trading on Tuesday, hitting $39.05. 13,618,458 shares of the company's stock traded hands, compared to its average volume of 14,249,305. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The stock has a market capitalization of $53.10 billion, a price-to-earnings ratio of 12.59, a P/E/G ratio of 10.10 and a beta of 1.47. The business has a fifty day simple moving average of $40.56 and a 200 day simple moving average of $41.76. 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 (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 company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm's revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.86 earnings per share. As a group, research analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 2.92%. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio (DPR) is currently 36.66%.

Insider Activity at Schlumberger

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the transaction, the vice president now owns 11,240 shares in the company, valued at $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the firm'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 completion of the sale, the insider now directly owns 30,829 shares of the company's stock, valued at $1,245,799.89. The trade was a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock worth $12,546,660 in the last 90 days. 0.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several analysts have weighed in on SLB shares. Piper Sandler began coverage on Schlumberger in a research report on Thursday, December 19th. They set a "neutral" rating and a $47.00 price objective on the stock. Barclays dropped their target price on shares of Schlumberger from $61.00 to $53.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 18th. Evercore ISI reiterated an "in-line" rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Royal Bank of Canada reissued an "outperform" rating and issued a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Finally, Jefferies Financial Group dropped 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. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $55.81.

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.