Heritage Investors Management Corp Boosts Holdings in Schlumberger Limited (NYSE:SLB)

Heritage Investors Management Corp raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 22.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 228,612 shares of the oil and gas company’s stock after acquiring an additional 42,154 shares during the period. Heritage Investors Management Corp’s holdings in Schlumberger were worth $8,765,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of SLB. Prospera Private Wealth LLC acquired a new position in Schlumberger in the third quarter valued at approximately $29,000. YANKCOM Partnership purchased a new position in shares of Schlumberger during the 4th quarter valued at approximately $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger in the 4th quarter valued at $32,000. Golden State Wealth Management LLC acquired a new position in shares of Schlumberger in the 4th quarter valued at $34,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Schlumberger during the third quarter worth $37,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Down 1.2 %

Shares of NYSE SLB opened at $40.53 on Thursday. The stock has a market cap of $55.11 billion, a PE ratio of 13.03, a P/E/G ratio of 10.10 and a beta of 1.51. 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 50-day moving average of $40.33 and a 200 day moving average of $41.85.

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 analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. During the same period in the prior year, the business earned $0.86 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.81%. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Analyst Ratings Changes

SLB has been the subject of a number of analyst reports. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Evercore ISI restated an “in-line” rating and issued a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Wells Fargo & Company lowered their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, Piper Sandler initiated coverage on Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. 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, insider Dianne B. Ralston sold 43,161 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the sale, the insider now owns 235,024 shares in the company, valued at $10,331,655.04. This trade represents a 15.52 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the sale, the insider now directly owns 53,584 shares in the company, valued at approximately $2,192,657.28. The trade was a 33.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock worth $12,546,660 in the last quarter. Company insiders own 0.26% of the company’s stock.

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.