OVERSEA CHINESE BANKING Corp Ltd Purchases 5,218 Shares of Schlumberger Limited (NYSE:SLB)

OVERSEA CHINESE BANKING Corp Ltd raised its holdings in Schlumberger Limited (NYSE:SLB) by 36.7% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 19,455 shares of the oil and gas company’s stock after buying an additional 5,218 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Schlumberger were worth $735,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prospera Private Wealth LLC acquired a new position in shares of Schlumberger during the 3rd quarter valued at $29,000. YANKCOM Partnership acquired a new stake in shares of Schlumberger in the 4th quarter valued at about $31,000. Stonebridge Financial Group LLC bought a new stake in Schlumberger in the 4th quarter valued at about $32,000. Golden State Wealth Management LLC acquired a new position in Schlumberger during the 4th quarter worth approximately $34,000. Finally, Hager Investment Management Services LLC bought a new position in Schlumberger in the fourth quarter worth approximately $38,000. 81.99% of the stock is currently owned by institutional investors.

Insider Activity at Schlumberger

In related news, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the business’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 transaction, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % 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 in the last three months. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SLB. TD Cowen increased their target price on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Citigroup boosted their target price on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Wells Fargo & Company decreased their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Piper Sandler assumed coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Finally, Barclays cut their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $55.81.

Schlumberger Trading Down 0.3 %

Shares of SLB stock opened at $41.00 on Thursday. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The firm has a market cap of $55.75 billion, a P/E ratio of 13.18, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The business has a 50-day moving average price of $41.08 and a two-hundred day moving average price of $41.43. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69.

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, 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 company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. During the same quarter in the previous year, the company posted $0.86 EPS. Schlumberger’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal 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 $0.285 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.78%. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

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.