Rockland Trust Co. boosted its stake in shares of Schlumberger Limited (NYSE:SLB – Free Report) by 3.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 330,129 shares of the oil and gas company’s stock after acquiring an additional 10,748 shares during the quarter. Rockland Trust Co.’s holdings in Schlumberger were worth $12,657,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also bought and sold shares of the stock. ORG Partners LLC boosted its position in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger in the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Schlumberger in the 3rd quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. increased its stake in shares of Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 876 shares during the period. Finally, J. Stern & Co. LLP bought a new position in shares of Schlumberger during the third quarter valued at approximately $47,000. 81.99% of the stock is currently owned by institutional investors.
Schlumberger Price Performance
Shares of NYSE:SLB opened at $39.95 on Wednesday. The business has a fifty day moving average price of $40.95 and a 200-day moving average price of $42.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The company has a market capitalization of $56.42 billion, a PE ratio of 12.85, a PEG ratio of 1.42 and a beta of 1.52. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69.
Schlumberger Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th were issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date of this dividend was Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.
Analyst Ratings Changes
Several research firms recently weighed in on SLB. TD Cowen cut their price target on shares of Schlumberger from $65.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Evercore ISI cut their target price on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. 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 target on the stock. Jefferies Financial Group lowered their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Finally, Dbs Bank began coverage on Schlumberger in a report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price on the stock. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $57.58.
View Our Latest Stock Report on SLB
Insider Transactions at Schlumberger
In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.
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.
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