Miller Financial Services LLC Makes New Investment in Schlumberger Limited (NYSE:SLB)

Miller Financial Services LLC acquired a new stake in shares of Schlumberger Limited (NYSE:SLB) during the fourth quarter, HoldingsChannel.com reports. The fund acquired 9,790 shares of the oil and gas company’s stock, valued at approximately $375,000.

A number of other hedge funds have also made changes to their positions in SLB. Teachers Retirement System of The State of Kentucky grew its position in shares of Schlumberger by 25.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock valued at $31,961,000 after purchasing an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its stake in Schlumberger by 27.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after purchasing an additional 16,350 shares during the period. Victory Capital Management Inc. grew its holdings in Schlumberger by 8.7% in the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after buying an additional 65,318 shares during the last quarter. Bryn Mawr Capital Management LLC increased its position in Schlumberger by 502.6% in the 4th quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company’s stock worth $7,592,000 after buying an additional 165,162 shares during the period. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Schlumberger by 26.0% during the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock worth $12,880,000 after buying an additional 63,413 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling

In other news, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares of the company’s stock, valued at approximately $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. 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 three months. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.6 %

Shares of NYSE SLB opened at $41.14 on Tuesday. The business has a fifty day moving average of $40.80 and a two-hundred day moving average of $41.61. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The stock has a market cap of $55.94 billion, a PE ratio of 13.23, a PEG ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $0.86 EPS. As a group, equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced 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 is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is presently 36.66%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SLB. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Wells Fargo & Company decreased their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Piper Sandler started 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. Citigroup lifted their target price on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Finally, Barclays lowered their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Company 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.