103,785 Shares in Schlumberger Limited (NYSE:SLB) Bought by InvesTrust

InvesTrust bought a new stake in shares of Schlumberger Limited (NYSE:SLB) in the 4th quarter, HoldingsChannel reports. The firm bought 103,785 shares of the oil and gas company’s stock, valued at approximately $3,961,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Victory Capital Management Inc. boosted its holdings in shares of Schlumberger by 26.3% in the 2nd quarter. Victory Capital Management Inc. now owns 752,453 shares of the oil and gas company’s stock worth $35,501,000 after purchasing an additional 156,788 shares in the last quarter. Private Advisor Group LLC grew its position in Schlumberger by 6.7% during the second quarter. Private Advisor Group LLC now owns 141,195 shares of the oil and gas company’s stock valued at $6,662,000 after acquiring an additional 8,868 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Schlumberger by 1,751.0% during the second quarter. Acadian Asset Management LLC now owns 159,893 shares of the oil and gas company’s stock worth $7,539,000 after acquiring an additional 151,255 shares in the last quarter. Caprock Group LLC raised its stake in shares of Schlumberger by 33.3% during the second quarter. Caprock Group LLC now owns 32,833 shares of the oil and gas company’s stock worth $1,558,000 after acquiring an additional 8,203 shares in the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its holdings in shares of Schlumberger by 276.1% in the 2nd quarter. Ashton Thomas Private Wealth LLC now owns 43,445 shares of the oil and gas company’s stock worth $2,050,000 after acquiring an additional 31,894 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Down 1.8 %

SLB stock traded down $0.70 during midday trading on Wednesday, hitting $38.67. The stock had a trading volume of 6,701,692 shares, compared to its average volume of 9,201,872. The business has a 50-day moving average of $41.05 and a two-hundred day moving average of $43.22. 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 firm has a market cap of $54.61 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same period in the prior year, the firm earned $0.78 EPS. The company’s revenue was up 10.2% compared to the same quarter last year. As a group, equities research analysts forecast that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.84%. Schlumberger’s payout ratio is 35.37%.

Wall Street Analyst Weigh In

SLB has been the subject of several recent research reports. Morgan Stanley lowered their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Susquehanna lowered their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Piper Sandler assumed coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. TD Cowen lowered their price objective on Schlumberger from $65.00 to $53.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $57.58.

Insider Transactions at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger 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 completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

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.