Ethic Inc. Purchases 19,947 Shares of Schlumberger Limited (NYSE:SLB)

Ethic Inc. lifted its position in shares of Schlumberger Limited (NYSE:SLB) by 48.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,797 shares of the oil and gas company’s stock after purchasing an additional 19,947 shares during the quarter. Ethic Inc.’s holdings in Schlumberger were worth $2,331,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. CX Institutional boosted its holdings in shares of Schlumberger by 2.4% in the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock valued at $398,000 after buying an additional 244 shares during the period. TCW Group Inc. lifted its position in Schlumberger by 1.3% in the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock valued at $759,000 after acquiring an additional 259 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in Schlumberger by 0.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock worth $2,174,000 after purchasing an additional 262 shares during the period. Cromwell Holdings LLC increased its holdings in Schlumberger by 7.0% during the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock worth $167,000 after purchasing an additional 283 shares in the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. raised its stake in shares of Schlumberger by 2.0% in the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,775 shares of the oil and gas company’s stock valued at $566,000 after purchasing an additional 293 shares during the period. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the business’s stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the sale, the insider now directly owns 31,031 shares of the company’s stock, valued at $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Gavin Rennick sold 26,990 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value of $1,104,430.80. Following the sale, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. The trade was a 33.50% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 0.6%

Schlumberger stock opened at $34.51 on Monday. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94. The business’s fifty day moving average is $37.18 and its 200 day moving average is $39.73. The stock has a market capitalization of $46.94 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $8.49 billion during the quarter, compared to analysts’ expectations of $8.64 billion. During the same quarter last year, the business earned $0.75 earnings per share. The business’s quarterly revenue was down 2.5% on a year-over-year basis. On average, sell-side analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.30%. Schlumberger’s payout ratio is 38.64%.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of analyst reports. Barclays decreased their target price on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Wells Fargo & Company raised shares of Schlumberger from an “equal weight” rating to an “overweight” rating and dropped their target price for the company from $46.00 to $44.00 in a report on Tuesday, April 8th. BMO Capital Markets cut their price target on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Piper Sandler cut their price objective on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Finally, TD Cowen boosted their target price on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $53.32.

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.