Coastwise Capital Group LLC Buys 1,822 Shares of Schlumberger Limited (NYSE:SLB)

Coastwise Capital Group LLC lifted its position in Schlumberger Limited (NYSE:SLB) by 21.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,409 shares of the oil and gas company’s stock after buying an additional 1,822 shares during the quarter. Coastwise Capital Group LLC’s holdings in Schlumberger were worth $399,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SLB. State Street Corp grew its position in shares of Schlumberger by 0.6% during the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after purchasing an additional 528,279 shares in the last quarter. Geode Capital Management LLC boosted its stake in Schlumberger by 0.8% during the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after buying an additional 239,966 shares during the period. Pacer Advisors Inc. grew its position in Schlumberger by 12,289.6% during the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock worth $500,082,000 after buying an additional 12,938,082 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after acquiring an additional 1,916,851 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Schlumberger by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock valued at $335,214,000 after acquiring an additional 31,718 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Activity at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 123,097 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the transaction, the executive vice president now owns 184,626 shares in the company, valued at $8,140,160.34. This trade represents a 40.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’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 completion of the sale, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 258,258 shares of company stock worth $11,219,004 over the last quarter. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

SLB has been the subject of several recent analyst reports. Stifel Nicolaus cut their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Citigroup raised their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Evercore ISI reiterated an “in-line” rating and issued a $44.00 target price (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Wells Fargo & Company reduced their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Finally, Piper Sandler began coverage on Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target for the company. Six research 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 company’s stock. According to MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $41.03 on Friday. The company’s fifty day simple moving average is $40.58 and its two-hundred day simple moving average is $42.63. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The firm has a market cap of $57.47 billion, a PE ratio of 13.19, a price-to-earnings-growth ratio of 9.70 and a beta of 1.52. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 return on equity of 21.90% and a net margin of 12.29%. Schlumberger’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $0.86 earnings per share. As a group, equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is currently 35.37%.

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.