Schlumberger Limited (NYSE:SLB) Stock Holdings Increased by 1ST Source Bank

1ST Source Bank boosted its position in Schlumberger Limited (NYSE:SLB) by 3.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 10,885 shares of the oil and gas company’s stock after buying an additional 336 shares during the period. 1ST Source Bank’s holdings in Schlumberger were worth $417,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SLB. Oppenheimer Asset Management Inc. increased its holdings in Schlumberger by 11.1% in the third quarter. Oppenheimer Asset Management Inc. now owns 6,816 shares of the oil and gas company’s stock valued at $286,000 after buying an additional 683 shares during the last quarter. OneDigital Investment Advisors LLC increased its holdings in Schlumberger by 0.7% in the third quarter. OneDigital Investment Advisors LLC now owns 40,715 shares of the oil and gas company’s stock valued at $1,708,000 after buying an additional 284 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Schlumberger by 2.1% in the third quarter. Thrivent Financial for Lutherans now owns 225,906 shares of the oil and gas company’s stock valued at $9,476,000 after buying an additional 4,665 shares during the last quarter. Swiss National Bank increased its holdings in Schlumberger by 0.7% in the third quarter. Swiss National Bank now owns 4,242,627 shares of the oil and gas company’s stock valued at $177,978,000 after buying an additional 29,200 shares during the last quarter. Finally, Islay Capital Management LLC boosted its stake in Schlumberger by 4,952.4% in the third quarter. Islay Capital Management LLC now owns 26,525 shares of the oil and gas company’s stock valued at $1,113,000 after acquiring an additional 26,000 shares during the period. 81.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Royal Bank of Canada restated an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. JPMorgan Chase & Co. lifted their target price on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Barclays decreased their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Piper Sandler assumed coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. Finally, TD Cowen lifted their target price on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Price Performance

NYSE SLB opened at $41.42 on Tuesday. The stock has a market capitalization of $56.32 billion, a P/E ratio of 13.32, a P/E/G ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The business’s fifty day moving average is $41.00 and its two-hundred day moving average is $41.46. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The company 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 firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. On average, research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business 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 is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.75%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is currently 36.66%.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now owns 210,502 shares of the company’s stock, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Gavin Rennick sold 26,990 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total value of $1,104,430.80. Following the completion of the sale, the insider now directly owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. This trade represents a 33.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 290,772 shares of company stock valued at $12,546,660. 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.