Cromwell Holdings LLC Has $167,000 Stake in Schlumberger Limited (NYSE:SLB)

Cromwell Holdings LLC increased its position in shares of Schlumberger Limited (NYSE:SLB) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 4,350 shares of the oil and gas company’s stock after buying an additional 283 shares during the period. Cromwell Holdings LLC’s holdings in Schlumberger were worth $167,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new position in Schlumberger during the third quarter worth $29,000. YANKCOM Partnership acquired a new position in Schlumberger during the fourth quarter worth $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger during the fourth quarter worth $32,000. Ashton Thomas Securities LLC acquired a new position in Schlumberger during the third quarter worth $37,000. Finally, Golden State Wealth Management LLC bought a new position in Schlumberger during the fourth quarter worth $34,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Up 1.0 %

SLB stock opened at $42.58 on Friday. The company has a market cap of $59.65 billion, a PE ratio of 13.69, a price-to-earnings-growth ratio of 10.00 and a beta of 1.51. The business has a 50-day simple moving average of $40.17 and a 200 day simple moving average of $41.92. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. 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 (NYSE:SLB) last posted its quarterly earnings results 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 business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 earnings per share. Sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is 36.66%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on SLB. 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 price objective for the company. Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. JPMorgan Chase & Co. lifted their price objective 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. Wells Fargo & Company reduced their price objective 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. Finally, Stifel Nicolaus reduced their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.81.

Insider Activity at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the business’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 completion of the transaction, the insider now owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the transaction, the vice president now directly owns 11,240 shares of the company’s stock, valued at approximately $496,808. The trade was a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock valued at $11,442,229 over the last quarter. 0.26% of the stock is 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.