Resonant Capital Advisors LLC Sells 908 Shares of Schlumberger Limited (NYSE:SLB)

Resonant Capital Advisors LLC lowered its position in Schlumberger Limited (NYSE:SLB) by 13.7% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,740 shares of the oil and gas company’s stock after selling 908 shares during the period. Resonant Capital Advisors LLC’s holdings in Schlumberger were worth $222,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. ORG Partners LLC increased its stake in Schlumberger by 393.5% during 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 in the last quarter. Prospera Private Wealth LLC acquired a new position in shares of Schlumberger in the 3rd quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Schlumberger in the third quarter worth about $37,000. DiNuzzo Private Wealth Inc. boosted its position in Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP purchased a new position in shares of Schlumberger during the 3rd quarter valued at approximately $47,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Vijay Kasibhatla sold 25,000 shares of the company’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 sale, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the sale, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 263,782 shares of company stock worth $11,442,229. 0.26% of the stock is owned by company insiders.

Schlumberger Stock Performance

NYSE SLB opened at $40.16 on Tuesday. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The business’s 50-day moving average price is $40.49 and its 200 day moving average price is $42.49. 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 firm has a market cap of $56.26 billion, a P/E ratio of 12.91, a P/E/G ratio of 9.55 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its 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. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter last year, the business earned $0.86 EPS. The business’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is presently 35.37%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JPMorgan Chase & Co. lifted their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Stifel Nicolaus dropped their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Citigroup raised their target price on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Piper Sandler initiated coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target on the stock. Finally, Bank of America cut their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Six 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 stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

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.