Inspire Investing LLC Sells 8,598 Shares of Schlumberger Limited (NYSE:SLB)

Inspire Investing LLC trimmed its position in Schlumberger Limited (NYSE:SLB) by 6.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,392 shares of the oil and gas company’s stock after selling 8,598 shares during the period. Inspire Investing LLC’s holdings in Schlumberger were worth $4,961,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. boosted its stake in Schlumberger by 4.7% during the 2nd quarter. Pacer Advisors Inc. now owns 100,979 shares of the oil and gas company’s stock valued at $4,764,000 after purchasing an additional 4,575 shares during the last quarter. Sei Investments Co. boosted its stake in Schlumberger by 1.8% during the 2nd quarter. Sei Investments Co. now owns 392,899 shares of the oil and gas company’s stock valued at $18,537,000 after purchasing an additional 6,998 shares during the last quarter. Frank Rimerman Advisors LLC boosted its stake in Schlumberger by 45,577.8% during the 2nd quarter. Frank Rimerman Advisors LLC now owns 8,222 shares of the oil and gas company’s stock valued at $388,000 after purchasing an additional 8,204 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in Schlumberger by 59.3% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 272,553 shares of the oil and gas company’s stock valued at $12,859,000 after purchasing an additional 101,468 shares during the last quarter. Finally, Sfmg LLC boosted its stake in Schlumberger by 4.7% during the 2nd quarter. Sfmg LLC now owns 84,920 shares of the oil and gas company’s stock valued at $4,007,000 after purchasing an additional 3,839 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of analyst reports. Citigroup lifted their price target on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday. Evercore ISI restated an “in-line” rating and issued a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. 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 on the stock. 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. Finally, JPMorgan Chase & Co. boosted their target price on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Insider Transactions at Schlumberger

In other news, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Ugo Prechner sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the transaction, the vice president now owns 11,240 shares in the company, valued at $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 198,258 shares of company stock valued at $8,732,604. 0.26% of the stock is currently owned by company insiders.

Schlumberger Price Performance

Schlumberger stock opened at $41.62 on Thursday. The business’s 50 day simple moving average is $40.79 and its 200 day simple moving average is $42.79. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The company has a market cap of $58.78 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 3.58 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts forecast that Schlumberger Limited will post 3.33 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.74%. Schlumberger’s payout ratio 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.