Townsend Asset Management Corp NC ADV Has $3.46 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Townsend Asset Management Corp NC ADV boosted its position in Schlumberger Limited (NYSE:SLB - Free Report) by 83.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 90,261 shares of the oil and gas company's stock after acquiring an additional 41,073 shares during the period. Schlumberger accounts for 1.3% of Townsend Asset Management Corp NC ADV's portfolio, making the stock its 24th largest position. Townsend Asset Management Corp NC ADV's holdings in Schlumberger were worth $3,461,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new position in Schlumberger in the third quarter valued at about $29,000. YANKCOM Partnership acquired a new position in Schlumberger in the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Schlumberger during the fourth quarter worth about $32,000. Golden State Wealth Management LLC acquired a new stake in shares of Schlumberger during the fourth quarter worth about $34,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Schlumberger during the third quarter worth about $37,000. Institutional investors own 81.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on SLB. Griffin Securities lowered Schlumberger from a "buy" rating to a "neutral" rating in a research report on Friday, December 20th. Piper Sandler began coverage on Schlumberger in a research report on Thursday, December 19th. They set a "neutral" rating and a $47.00 price target on the stock. Stifel Nicolaus dropped their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research report on Monday, December 23rd. BMO Capital Markets dropped their price target on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Finally, JPMorgan Chase & Co. raised their price target on Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $55.81.

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Schlumberger Stock Up 4.0 %

SLB stock traded up $1.60 during mid-day trading on Friday, reaching $41.36. The company had a trading volume of 19,613,595 shares, compared to its average volume of 14,443,572. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The stock has a 50 day simple moving average of $40.73 and a two-hundred day simple moving average of $41.63. The company has a market capitalization of $56.25 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69.

Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business's revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.86 earnings per share. As a group, equities analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal 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 is an increase from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.76%. The ex-dividend date is Wednesday, February 5th. Schlumberger's payout ratio is currently 36.66%.

Insider Transactions at Schlumberger

In other news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the transaction, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total value of $1,897,357.56. Following the transaction, the insider now owns 235,024 shares of the company's stock, valued at $10,331,655.04. This represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 290,772 shares of company stock worth $12,546,660. 0.26% of the stock is owned by company insiders.

Schlumberger 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.