Islay Capital Management LLC Raises Stake in Schlumberger Limited (NYSE:SLB)

Islay Capital Management LLC increased its stake in shares of Schlumberger Limited (NYSE:SLB) by 8.2% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 28,713 shares of the oil and gas company’s stock after buying an additional 2,188 shares during the quarter. Islay Capital Management LLC’s holdings in Schlumberger were worth $1,101,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in SLB. Benjamin Edwards Inc. lifted its stake in Schlumberger by 315.2% in the third quarter. Benjamin Edwards Inc. now owns 32,673 shares of the oil and gas company’s stock valued at $1,371,000 after purchasing an additional 24,803 shares during the last quarter. Integrated Wealth Concepts LLC raised its stake in shares of Schlumberger by 10.4% in the third quarter. Integrated Wealth Concepts LLC now owns 57,183 shares of the oil and gas company’s stock valued at $2,399,000 after buying an additional 5,391 shares during the period. IHT Wealth Management LLC lifted its position in shares of Schlumberger by 6.5% during the 3rd quarter. IHT Wealth Management LLC now owns 6,416 shares of the oil and gas company’s stock valued at $270,000 after buying an additional 394 shares during the last quarter. Royal London Asset Management Ltd. grew its stake in shares of Schlumberger by 2.9% during the 3rd quarter. Royal London Asset Management Ltd. now owns 599,593 shares of the oil and gas company’s stock worth $25,153,000 after acquiring an additional 16,826 shares during the period. Finally, Quantinno Capital Management LP raised its stake in Schlumberger by 15.3% in the 3rd quarter. Quantinno Capital Management LP now owns 133,616 shares of the oil and gas company’s stock valued at $5,605,000 after acquiring an additional 17,709 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Activity

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the sale, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. This trade represents a 38.38 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 directly owns 49,595 shares of the company’s stock, valued at approximately $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. Over the last three months, insiders have sold 315,905 shares of company stock valued at $13,609,283. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Piper Sandler began coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. JPMorgan Chase & Co. lifted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. TD Cowen increased their target price on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Citigroup raised their price target on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, BMO Capital Markets dropped their price objective on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $54.79.

Schlumberger Price Performance

SLB opened at $34.77 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $47.28 billion, a P/E ratio of 11.18, a PEG ratio of 10.10 and a beta of 1.11. The stock has a 50-day moving average price of $41.02 and a 200-day moving average price of $41.45. Schlumberger Limited has a 12-month low of $34.04 and a 12-month high of $55.65.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results 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 business 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%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $0.86 earnings per share. Equities analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th were given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 3.28%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, February 5th. Schlumberger’s dividend payout ratio is presently 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.