SVB Wealth LLC Makes New Investment in Schlumberger Limited (NYSE:SLB)

SVB Wealth LLC purchased a new position in shares of Schlumberger Limited (NYSE:SLB) during the fourth quarter, HoldingsChannel reports. The firm purchased 135,552 shares of the oil and gas company’s stock, valued at approximately $5,197,000.

A number of other institutional investors have also recently bought and sold shares of SLB. Pacer Advisors Inc. increased its position in Schlumberger by 12,289.6% during the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock worth $500,082,000 after buying an additional 12,938,082 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Schlumberger by 20.6% during 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 worth $470,425,000 after buying an additional 1,916,851 shares during the last quarter. Scharf Investments LLC acquired a new position in Schlumberger during the fourth quarter worth approximately $52,607,000. Van ECK Associates Corp increased its position in Schlumberger by 12.7% during the fourth quarter. Van ECK Associates Corp now owns 8,103,715 shares of the oil and gas company’s stock worth $310,696,000 after buying an additional 915,925 shares during the last quarter. Finally, Weiss Asset Management LP acquired a new position in Schlumberger during the third quarter worth approximately $37,322,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLB. Wells Fargo & Company lowered their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Evercore ISI restated an “in-line” rating and set a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Piper Sandler started coverage on Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, TD Cowen boosted their price objective on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and an average target price of $55.81.

Schlumberger Stock Up 1.8 %

NYSE SLB opened at $41.63 on Friday. The business has a fifty day moving average price of $40.51 and a two-hundred day moving average price of $41.81. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The stock has a market capitalization of $56.61 billion, a PE ratio of 13.38, a PEG ratio of 10.10 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping 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 analysts’ expectations of $9.24 billion. During the same period in the prior year, the company earned $0.86 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced 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 of this dividend is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.74%. Schlumberger’s dividend payout ratio is presently 36.66%.

Insiders Place Their Bets

In other news, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction on 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 approximately $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gavin Rennick sold 26,990 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the transaction, the insider now owns 53,584 shares of the company’s stock, valued at $2,192,657.28. This trade represents a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock worth $12,546,660 over the last three months. Insiders own 0.26% of the company’s stock.

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.