SVB Wealth LLC Takes $5.20 Million Position in Schlumberger Limited (NYSE:SLB)

SVB Wealth LLC bought a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 135,552 shares of the oil and gas company's stock, valued at approximately $5,197,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in Schlumberger by 0.6% during the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company's stock worth $3,808,476,000 after buying an additional 528,279 shares during the last quarter. Geode Capital Management LLC boosted its holdings in 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 buying an additional 239,966 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in Schlumberger by 12,289.6% during the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock worth $500,082,000 after buying an additional 12,938,082 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Schlumberger by 20.6% during the third 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 worth $470,425,000 after buying an additional 1,916,851 shares during the last quarter. Finally, Van ECK Associates Corp boosted its holdings in Schlumberger by 12.7% during the fourth 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 last quarter. Institutional investors own 81.99% of the company's stock.

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Analyst Ratings Changes

Several equities analysts have recently weighed in on SLB shares. TD Cowen lifted their price objective on Schlumberger from $53.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Griffin Securities cut Schlumberger from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. Jefferies Financial Group dropped their target price on Schlumberger from $64.00 to $61.00 and set a "buy" rating on the stock in a research report on Friday, January 3rd. Barclays dropped 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. Finally, Piper Sandler initiated coverage on Schlumberger in a research report on Thursday, December 19th. They issued a "neutral" rating and a $47.00 target price on the stock. Six investment 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's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $55.81.

Schlumberger Stock Performance

Shares of SLB stock traded up $0.39 during trading on Wednesday, reaching $39.47. 13,651,038 shares of the company's stock were exchanged, compared to its average volume of 14,370,351. 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 stock has a market capitalization of $53.67 billion, a PE ratio of 12.69, a PEG ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The firm's fifty day moving average price is $40.62 and its 200-day moving average price is $41.70.

Schlumberger (NYSE:SLB - Get Free Report) last posted 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. The business had revenue of $9.28 billion for 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 EPS. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The company 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. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.89%. Schlumberger's payout ratio is 36.66%.

Insider Activity at Schlumberger

In related news, Director Vijay Kasibhatla sold 25,000 shares of the business's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the sale, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. The trade was a 33.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the business's 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 completion of the sale, the executive vice president now owns 184,626 shares of the company's stock, valued at $8,140,160.34. This trade represents a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock worth $12,546,660 in the last ninety days. 0.26% of the stock is owned by company insiders.

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.