OLD National Bancorp IN raised its position in shares of Schlumberger Limited (NYSE:SLB – Free Report) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 344,876 shares of the oil and gas company’s stock after purchasing an additional 3,628 shares during the quarter. OLD National Bancorp IN’s holdings in Schlumberger were worth $13,223,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of SLB. ORG Partners LLC increased its holdings in shares of Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares during the period. Prospera Private Wealth LLC bought a new stake in Schlumberger during the third quarter worth approximately $29,000. Ashton Thomas Securities LLC acquired a new position in Schlumberger during the 3rd quarter worth $37,000. DiNuzzo Private Wealth Inc. grew its stake in shares of Schlumberger by 1,068.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new position in shares of Schlumberger during the third quarter valued at about $47,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on SLB. Susquehanna decreased their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Barclays dropped their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Jefferies Financial Group dropped their price objective on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Royal Bank of Canada reissued an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company cut 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. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $55.81.
Insider Activity
In related news, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the transaction, the insider now directly owns 235,024 shares of the company’s stock, valued at $10,331,655.04. This trade represents a 15.52 % 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, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction dated 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 directly owns 11,240 shares in the company, valued at $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 258,258 shares of company stock valued at $11,219,004. 0.26% of the stock is owned by insiders.
Schlumberger Price Performance
NYSE:SLB opened at $40.87 on Thursday. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a market cap of $57.71 billion, a P/E ratio of 13.14, a P/E/G ratio of 9.98 and a beta of 1.52. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The stock’s 50-day simple moving average is $40.69 and its 200 day simple moving average is $42.66.
Schlumberger (NYSE:SLB – Get Free Report) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping 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 firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter in the previous 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 forecast that Schlumberger Limited will post 3.34 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. Investors of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.79%. Schlumberger’s payout ratio is presently 35.37%.
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.
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