Aspen Wealth Strategies LLC Purchases 2,742 Shares of Schlumberger Limited (NYSE:SLB)

Aspen Wealth Strategies LLC lifted its position in Schlumberger Limited (NYSE:SLB) by 19.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,881 shares of the oil and gas company’s stock after purchasing an additional 2,742 shares during the quarter. Aspen Wealth Strategies LLC’s holdings in Schlumberger were worth $647,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its holdings in shares of Schlumberger by 0.6% in the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after purchasing an additional 528,279 shares during the period. Geode Capital Management LLC increased its stake in Schlumberger by 0.8% in 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 acquiring an additional 239,966 shares during the last quarter. First Eagle Investment Management LLC increased its stake in Schlumberger by 1.2% in the fourth quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company’s stock valued at $1,067,254,000 after acquiring an additional 343,261 shares during the last quarter. Pacer Advisors Inc. increased its stake in Schlumberger by 12,289.6% in the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after acquiring an additional 12,938,082 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Schlumberger by 20.6% in the third 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 valued at $470,425,000 after acquiring an additional 1,916,851 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In related news, insider Gavin Rennick sold 26,990 shares of the stock in a transaction dated Wednesday, February 26th. The shares were 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 of the company’s stock, valued at $2,192,657.28. This represents a 33.50 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the transaction, the insider now directly owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 290,772 shares of company stock valued at $12,546,660 over the last three months. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on SLB. Evercore ISI reissued an “in-line” rating and issued a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Piper Sandler began coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Jefferies Financial Group reduced their target price on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Barclays reduced their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Finally, Stifel Nicolaus reduced their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Stock Performance

Schlumberger stock opened at $41.42 on Tuesday. 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 firm has a 50-day moving average of $41.00 and a 200-day moving average of $41.46. The firm has a market cap of $56.32 billion, a P/E ratio of 13.32, a P/E/G ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69.

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

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.75%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio is currently 36.66%.

Schlumberger Company 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.