Investment Advisory Services Inc. TX ADV Lowers Stock Holdings in Schlumberger Limited (NYSE:SLB)

Investment Advisory Services Inc. TX ADV cut its holdings in shares of Schlumberger Limited (NYSE:SLB) by 6.5% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,938 shares of the oil and gas company’s stock after selling 481 shares during the quarter. Investment Advisory Services Inc. TX ADV’s holdings in Schlumberger were worth $266,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the business. ORG Partners LLC boosted its position in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Schlumberger during the third quarter worth approximately $29,000. YANKCOM Partnership acquired a new position in shares of Schlumberger in the 4th quarter valued at $31,000. Golden State Wealth Management LLC purchased a new stake in shares of Schlumberger during the 4th quarter valued at $34,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Schlumberger during the 3rd quarter worth $37,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on SLB. Susquehanna reduced their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Piper Sandler initiated coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Insider Activity at Schlumberger

In other news, insider Bejar Carmen Rando sold 5,524 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the sale, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the transaction, the director now owns 49,595 shares in the company, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. 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 over the last three months. 0.26% of the stock is owned by insiders.

Schlumberger Stock Performance

Shares of SLB opened at $40.15 on Friday. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The firm has a market cap of $56.25 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 9.49 and a beta of 1.51. The business’s 50 day moving average is $40.17 and its two-hundred day moving average is $42.28.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.86 EPS. Analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 2.84%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

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.