Harbor Investment Advisory LLC Sells 7,098 Shares of Schlumberger Limited (NYSE:SLB)

Harbor Investment Advisory LLC reduced its stake in shares of Schlumberger Limited (NYSE:SLB) by 39.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 10,856 shares of the oil and gas company’s stock after selling 7,098 shares during the period. Harbor Investment Advisory LLC’s holdings in Schlumberger were worth $416,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in Schlumberger by 2.0% during the fourth quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,775 shares of the oil and gas company’s stock worth $566,000 after purchasing an additional 293 shares during the last quarter. BigSur Wealth Management LLC purchased a new position in shares of Schlumberger during the 4th quarter valued at about $1,722,000. Community Bank of Raymore bought a new stake in Schlumberger in the 4th quarter worth approximately $246,000. Diversify Advisory Services LLC boosted its stake in Schlumberger by 13.3% in the fourth quarter. Diversify Advisory Services LLC now owns 11,274 shares of the oil and gas company’s stock worth $435,000 after buying an additional 1,327 shares in the last quarter. Finally, Guardian Investment Management bought a new position in Schlumberger during the fourth quarter valued at approximately $1,215,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the sale, the executive vice president now directly owns 184,626 shares in the company, valued at approximately $8,140,160.34. This trade represents a 40.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The stock was 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 of the company’s stock, valued at approximately $496,808. The trade was a 38.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 258,258 shares of company stock valued at $11,246,604. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Barclays cut their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. BMO Capital Markets decreased their price objective on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Piper Sandler started coverage on Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price for the company. Finally, TD Cowen lifted their price target on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Stock Up 0.4 %

NYSE:SLB opened at $43.76 on Wednesday. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69. The company has a market capitalization of $61.80 billion, a PE ratio of 14.07, a P/E/G ratio of 3.61 and a beta of 1.52. The firm’s 50-day moving average price is $40.84 and its 200-day moving average price is $42.81. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating 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 $9,241,140 billion. During the same quarter last year, the firm earned $0.86 earnings per share. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities analysts predict that Schlumberger Limited will post 3.29 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. Shareholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 2.60%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s payout ratio is 36.66%.

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.