Ellerson Group Inc. ADV Reduces Stake in Schlumberger Limited (NYSE:SLB)

Ellerson Group Inc. ADV lowered its holdings in Schlumberger Limited (NYSE:SLB) by 3.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 51,101 shares of the oil and gas company’s stock after selling 1,609 shares during the quarter. Schlumberger comprises 1.4% of Ellerson Group Inc. ADV’s investment portfolio, making the stock its 26th biggest holding. Ellerson Group Inc. ADV’s holdings in Schlumberger were worth $1,959,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in shares of Schlumberger in the 3rd quarter valued at about $29,000. YANKCOM Partnership purchased a new position in shares of Schlumberger in the 4th quarter valued at about $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Schlumberger in the 4th quarter valued at about $32,000. Ashton Thomas Securities LLC purchased a new position in shares of Schlumberger in the 3rd quarter valued at about $37,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Schlumberger in the 4th quarter valued at about $34,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 4.0 %

SLB opened at $41.36 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The business has a 50 day simple moving average of $40.73 and a 200-day simple moving average of $41.64. The stock has a market capitalization of $56.25 billion, a P/E ratio of 13.30, a P/E/G ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69.

Schlumberger (NYSE:SLB) last released its quarterly earnings data 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 return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same period last year, the business posted $0.86 EPS. Schlumberger’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

Analysts Set New Price Targets

SLB has been the subject of a number of research analyst reports. Wells Fargo & Company decreased their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Citigroup upped their target price on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Piper Sandler initiated coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. TD Cowen upped their target price on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. upped their target price on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $55.81.

Insiders Place Their Bets

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Gavin Rennick sold 26,990 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 53,584 shares of the company’s stock, valued at $2,192,657.28. The trade was a 33.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 290,772 shares of company stock valued at $12,546,660. Corporate insiders own 0.26% of the company’s stock.

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.