Schlumberger Limited (NYSE:SLB) Shares Purchased by Jacobi Capital Management LLC

Jacobi Capital Management LLC boosted its holdings in Schlumberger Limited (NYSE:SLB) by 25.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 7,222 shares of the oil and gas company’s stock after buying an additional 1,453 shares during the quarter. Jacobi Capital Management LLC’s holdings in Schlumberger were worth $277,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC purchased a new stake in Schlumberger during the third quarter valued at about $29,000. YANKCOM Partnership purchased a new stake in Schlumberger during the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC purchased a new stake in Schlumberger during the fourth quarter valued at about $32,000. Golden State Wealth Management LLC purchased a new stake in Schlumberger during the fourth quarter valued at about $34,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Schlumberger during the third quarter valued at about $37,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Trading Up 1.8 %

Shares of SLB opened at $41.63 on Monday. The company has a market capitalization of $56.61 billion, a P/E ratio of 13.38, a P/E/G ratio of 10.10 and a beta of 1.51. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. 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 has a 50-day moving average price of $40.51 and a 200 day moving average price of $41.80.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates 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 quarter in the prior year, the business posted $0.86 earnings per share. Schlumberger’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.74%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is presently 36.66%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SLB. Citigroup boosted their price target on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. BMO Capital Markets lowered their price target on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Piper Sandler started coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target for the company. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Stifel Nicolaus decreased their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the sale, the insider now owns 30,829 shares in the company, valued at $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the sale, the director now 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 have sold 290,772 shares of company stock worth $12,546,660 over the last quarter. 0.26% of the stock is owned by corporate insiders.

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.