2,700 Shares in Schlumberger Limited (NYSE:SLB) Bought by FCA Corp TX

FCA Corp TX bought a new position in Schlumberger Limited (NYSE:SLB) during the 4th quarter, HoldingsChannel reports. The fund bought 2,700 shares of the oil and gas company’s stock, valued at approximately $104,000.

Several other hedge funds also recently made changes to their positions in SLB. Prospera Private Wealth LLC bought a new stake in Schlumberger in the third quarter valued at $29,000. YANKCOM Partnership bought a new stake in Schlumberger in the fourth quarter valued at $31,000. Stonebridge Financial Group LLC bought a new stake in Schlumberger in the fourth quarter valued at $32,000. Golden State Wealth Management LLC bought a new stake in Schlumberger in the fourth quarter valued at $34,000. Finally, Hager Investment Management Services LLC bought a new stake in Schlumberger in the fourth quarter valued at $38,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Schlumberger news, insider Gavin Rennick sold 26,990 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total value of $1,104,430.80. Following the completion of the transaction, the insider now directly owns 53,584 shares in the company, valued at $2,192,657.28. This represents a 33.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction that occurred 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 transaction, the director now owns 49,595 shares of the company’s stock, valued at $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 sold 290,772 shares of company stock worth $12,546,660 in the last three months. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SLB shares. Stifel Nicolaus dropped their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Citigroup boosted their target price on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. TD Cowen boosted their target price on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Barclays dropped their price target 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. Finally, 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 price target on the stock. Six equities 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $55.81.

Schlumberger Trading Down 0.5 %

Shares of NYSE:SLB opened at $41.09 on Friday. The stock has a 50 day moving average of $41.18 and a 200 day moving average of $41.41. The company has a market cap of $55.87 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69.

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

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 2.77%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio is presently 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.