Old North State Wealth Management LLC Buys New Shares in Schlumberger Limited (NYSE:SLB)

Old North State Wealth Management LLC acquired a new stake in shares of Schlumberger Limited (NYSE:SLB) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,752 shares of the oil and gas company’s stock, valued at approximately $221,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. State Street Corp grew its stake in shares of Schlumberger by 0.6% during the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after buying an additional 528,279 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Schlumberger by 0.8% during the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after buying an additional 239,966 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Schlumberger by 12,289.6% during the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after buying an additional 12,938,082 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Schlumberger by 20.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after buying an additional 1,916,851 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Schlumberger by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock worth $335,214,000 after purchasing an additional 31,718 shares during the period. 81.99% of the stock is owned by institutional investors.

Schlumberger Trading Up 2.7 %

NYSE:SLB opened at $41.23 on Wednesday. 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 $57.76 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 9.55 and a beta of 1.51. The company has a 50 day simple moving average of $40.42 and a two-hundred day simple moving average of $42.43.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping 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 during the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter in the previous year, the firm posted $0.86 EPS. The firm’s revenue was up 3.3% on a year-over-year basis. Research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is an increase 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 dividend yield of 2.76%. Schlumberger’s payout ratio is presently 35.37%.

Insider Activity

In related news, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the transaction, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the transaction, the insider now owns 30,829 shares in the company, valued at approximately $1,245,799.89. This trade represents a 15.20 % 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 in the last 90 days. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Stifel Nicolaus dropped their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Bank of America dropped their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Piper Sandler assumed coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price for the company. Finally, Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Six investment 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average 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.