Commonwealth Equity Services LLC Buys 12,187 Shares of Schlumberger Limited (NYSE:SLB)

Commonwealth Equity Services LLC raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 3.6% in the 4th quarter, HoldingsChannel reports. The firm owned 348,289 shares of the oil and gas company’s stock after purchasing an additional 12,187 shares during the period. Commonwealth Equity Services LLC’s holdings in Schlumberger were worth $13,353,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SLB. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger in the 3rd quarter worth approximately $29,000. YANKCOM Partnership bought a new stake in shares of Schlumberger in the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Schlumberger in the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC bought a new stake in shares of Schlumberger in the 4th quarter worth approximately $34,000. Finally, Hager Investment Management Services LLC bought a new stake in shares of Schlumberger in the 4th quarter worth approximately $38,000. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the transaction, the vice president now owns 11,240 shares in the company, valued at approximately $496,808. This represents a 38.38 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction 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 represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 290,772 shares of company stock worth $12,546,660. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on SLB shares. TD Cowen lifted their target price on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Citigroup lifted their target price on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Piper Sandler started coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price 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. Finally, Barclays decreased their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Stock Down 0.8 %

NYSE:SLB opened at $41.11 on Wednesday. The firm’s 50-day moving average price is $41.04 and its 200-day moving average price is $41.44. The company has a market capitalization of $55.90 billion, a PE ratio of 13.22, a P/E/G ratio of 10.10 and a beta of 1.47. 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 Limited has a 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 EPS. On average, equities analysts predict that Schlumberger Limited will post 3.38 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 paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.77%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is currently 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.