Schlumberger Limited (NYSE:SLB) Shares Bought by Palogic Value Management L.P.

Palogic Value Management L.P. raised its holdings in Schlumberger Limited (NYSE:SLB) by 10.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 33,442 shares of the oil and gas company’s stock after acquiring an additional 3,111 shares during the period. Palogic Value Management L.P.’s holdings in Schlumberger were worth $1,282,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SLB. Oppenheimer Asset Management Inc. raised its holdings in Schlumberger by 11.1% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 6,816 shares of the oil and gas company’s stock valued at $286,000 after acquiring an additional 683 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Schlumberger by 2.1% in the 3rd 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 period. Pathstone Holdings LLC grew its stake in shares of Schlumberger by 3.6% in the 3rd quarter. Pathstone Holdings LLC now owns 148,635 shares of the oil and gas company’s stock valued at $6,240,000 after buying an additional 5,105 shares during the period. Prospera Financial Services Inc grew its stake in shares of Schlumberger by 1.9% in the 3rd quarter. Prospera Financial Services Inc now owns 31,811 shares of the oil and gas company’s stock valued at $1,335,000 after buying an additional 594 shares during the period. Finally, Prospera Private Wealth LLC purchased a new stake in shares of Schlumberger in the 3rd quarter valued at approximately $29,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB stock opened at $41.29 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The stock has a market capitalization of $56.14 billion, a PE ratio of 13.27, a P/E/G ratio of 10.10 and a beta of 1.47. The firm has a 50 day moving average of $41.13 and a two-hundred day moving average of $41.43.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating 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 company posted $0.86 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, research analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.76%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Stifel Nicolaus dropped their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. BMO Capital Markets dropped their price target on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Wells Fargo & Company dropped 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 note on Tuesday, December 17th. Finally, Piper Sandler initiated coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Insider Activity

In related news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction on Friday, January 31st. The shares were 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 trade represents a 15.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the sale, the executive vice president now owns 184,626 shares in the company, valued at $8,140,160.34. This represents a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 290,772 shares of company stock worth $12,546,660. 0.26% of the stock is currently owned by corporate insiders.

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.