Versant Capital Management Inc Acquires 745 Shares of Schlumberger Limited (NYSE:SLB)

Versant Capital Management Inc lifted its holdings in Schlumberger Limited (NYSE:SLB) by 98.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 1,498 shares of the oil and gas company’s stock after buying an additional 745 shares during the quarter. Versant Capital Management Inc’s holdings in Schlumberger were worth $57,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SLB. ORG Partners LLC boosted its stake in Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Schlumberger during the third quarter worth $29,000. Ashton Thomas Securities LLC purchased a new position in Schlumberger during the third quarter valued at $37,000. DiNuzzo Private Wealth Inc. grew its stake in Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP bought a new stake in Schlumberger in the 3rd quarter valued at $47,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Jefferies Financial Group cut their price objective on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Friday. JPMorgan Chase & Co. reduced their price objective on Schlumberger from $55.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday. Citigroup lowered their target price on Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Piper Sandler started coverage on shares of Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target on the stock. Finally, Wells Fargo & Company decreased their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $58.25.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 0.5 %

Shares of NYSE SLB opened at $38.59 on Monday. The stock has a market capitalization of $54.50 billion, a P/E ratio of 12.41, a PEG ratio of 1.42 and a beta of 1.52. The stock’s 50 day moving average price is $41.12 and its two-hundred day moving average price is $43.32. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the company posted $0.78 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.85%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

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.