Wedge Capital Management L L P NC Purchases 2,705 Shares of Schlumberger Limited (NYSE:SLB)

Wedge Capital Management L L P NC increased its position in shares of Schlumberger Limited (NYSE:SLB) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 165,784 shares of the oil and gas company’s stock after purchasing an additional 2,705 shares during the period. Wedge Capital Management L L P NC’s holdings in Schlumberger were worth $6,356,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC grew its stake in shares of Schlumberger by 393.5% during the third 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 last quarter. Prospera Private Wealth LLC bought a new position in Schlumberger in the 3rd quarter valued at $29,000. Ashton Thomas Securities LLC purchased a new stake in Schlumberger in the third quarter worth $37,000. DiNuzzo Private Wealth Inc. lifted its position 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 worth $40,000 after purchasing an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP purchased a new stake in shares of Schlumberger during the third quarter valued at $47,000. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Susquehanna reduced 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. Wells Fargo & Company lowered their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Piper Sandler began coverage on Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective on the stock. Finally, Jefferies Financial Group lowered their target price on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $56.03.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is owned by insiders.

Schlumberger Stock Up 6.1 %

Schlumberger stock opened at $43.58 on Friday. The business has a fifty day moving average price of $40.86 and a 200-day moving average price of $42.90. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69. The stock has a market capitalization of $61.54 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.35 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12.

Schlumberger (NYSE:SLB) last released 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 12.44% and a return on equity of 21.84%. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same period last year, the business earned $0.86 EPS. Schlumberger’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts forecast that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company 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 dividend on an annualized basis and a dividend yield of 2.62%. Schlumberger’s payout ratio is 35.37%.

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.