Schlumberger Limited (NYSE:SLB) Shares Bought by Busey Bank

Busey Bank boosted its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 74.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 346,442 shares of the oil and gas company's stock after purchasing an additional 148,172 shares during the quarter. Busey Bank's holdings in Schlumberger were worth $13,283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. ORG Partners LLC increased its holdings in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company's stock valued at $25,000 after buying an additional 484 shares during the period. Prospera Private Wealth LLC bought a new position in Schlumberger in the third quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Schlumberger during the third quarter valued at about $37,000. DiNuzzo Private Wealth Inc. boosted its holdings in shares of Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company's stock valued at $40,000 after buying an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP purchased a new position in shares of Schlumberger in the 3rd quarter worth approximately $47,000. 81.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on SLB. Bank of America cut their price objective on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a report on Monday, October 14th. Sanford C. Bernstein raised shares of Schlumberger to a "strong-buy" rating in a research report on Tuesday, November 12th. Piper Sandler initiated coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a "neutral" rating and a $47.00 price target for the company. BMO Capital Markets dropped their price objective on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Finally, JPMorgan Chase & Co. upped their target price on Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $55.81.

Schlumberger Stock Performance

Shares of SLB traded up $0.09 during trading hours on Thursday, hitting $41.03. The stock had a trading volume of 10,169,688 shares, compared to its average volume of 15,395,205. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The firm has a 50-day moving average price of $40.64 and a 200 day moving average price of $42.65. The firm has a market capitalization of $57.93 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 9.98 and a beta of 1.52.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company's quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $0.86 EPS. As a group, research analysts anticipate that Schlumberger Limited will post 3.34 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 2.78%. This is an increase from Schlumberger's previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger's dividend payout ratio is presently 35.37%.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value 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 $8,723,202.88. The trade was a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction dated 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 258,258 shares of company stock worth $11,219,004 in the last quarter. Corporate insiders own 0.26% of the company's stock.

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.