Stamos Capital Partners L.P. Takes $2.83 Million Position in Schlumberger Limited (NYSE:SLB)

Stamos Capital Partners L.P. purchased a new stake in Schlumberger Limited (NYSE:SLB) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 73,810 shares of the oil and gas company’s stock, valued at approximately $2,830,000.

Other hedge funds have also bought and sold shares of the company. Y Intercept Hong Kong Ltd acquired a new position in shares of Schlumberger in the 3rd quarter valued at $232,000. Bard Financial Services Inc. purchased a new position in Schlumberger in the third quarter valued at $229,000. SkyView Investment Advisors LLC raised its position in shares of Schlumberger by 5.8% in the third quarter. SkyView Investment Advisors LLC now owns 16,965 shares of the oil and gas company’s stock worth $712,000 after acquiring an additional 936 shares during the period. Sfmg LLC boosted its stake in shares of Schlumberger by 4.1% during the 3rd quarter. Sfmg LLC now owns 88,398 shares of the oil and gas company’s stock worth $3,708,000 after acquiring an additional 3,478 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB grew its position in shares of Schlumberger by 27.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after acquiring an additional 16,350 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the sale, the executive vice president now directly owns 210,502 shares of the company’s stock, valued at approximately $8,723,202.88. This trade represents a 22.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 completion of the transaction, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. The trade was a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 315,905 shares of company stock worth $13,609,283 in the last 90 days. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

NYSE SLB opened at $33.94 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The stock’s fifty day moving average is $39.99 and its two-hundred day moving average is $41.03. The firm has a market capitalization of $46.15 billion, a P/E ratio of 10.91, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $54.63.

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

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th were paid a $0.285 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 3.36%. Schlumberger’s dividend payout ratio is 36.66%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. TD Cowen increased their price target on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Wells Fargo & Company upgraded Schlumberger from an “equal weight” rating to an “overweight” rating and decreased their target price for the company from $46.00 to $44.00 in a research report on Tuesday, April 8th. Piper Sandler began coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price objective (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Finally, Barclays dropped their target price on shares of Schlumberger from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $54.68.

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.