Wealth Effects LLC Invests $360,000 in Schlumberger Limited (NYSE:SLB)

Wealth Effects LLC purchased a new position in shares of Schlumberger Limited (NYSE:SLB - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,400 shares of the oil and gas company's stock, valued at approximately $360,000.

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

Analyst Ratings Changes

Several brokerages have issued reports on SLB. Wells Fargo & Company decreased their price target on shares of Schlumberger from $49.00 to $46.00 and set an "equal weight" rating for the company in a research report on Tuesday, December 17th. Piper Sandler began coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a "neutral" rating and a $47.00 target price for the company. JPMorgan Chase & Co. boosted their price target on shares of Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. BMO Capital Markets decreased their price target on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Finally, Jefferies Financial Group lowered their target price on Schlumberger from $64.00 to $61.00 and set a "buy" rating for the company in a report on Friday, January 3rd. 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 company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.81.

Insider Buying and Selling at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the transaction, the executive vice president now owns 184,626 shares of the company's stock, valued at approximately $8,140,160.34. This represents a 40.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dianne B. Ralston sold 43,161 shares of the firm's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the transaction, the insider now directly owns 235,024 shares of the company's stock, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 258,258 shares of company stock worth $11,219,004 over the last three months. 0.26% of the stock is owned by insiders.

Schlumberger Stock Performance

Shares of Schlumberger stock traded down $0.81 during trading hours on Friday, reaching $40.21. The company had a trading volume of 9,259,574 shares, compared to its average volume of 15,058,793. The firm has a market cap of $56.32 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 9.70 and a beta of 1.52. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. 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 business has a fifty day simple moving average of $40.58 and a 200 day simple moving average of $42.63.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings data 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 company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger's revenue was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.86 earnings per share. On average, analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.84%. This is a boost from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio (DPR) is presently 35.37%.

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.