Holderness Investments Co. Boosts Stock Position in Schlumberger Limited (NYSE:SLB)

Holderness Investments Co. raised its stake in Schlumberger Limited (NYSE:SLB) by 4.5% during the 4th quarter, HoldingsChannel reports. The firm owned 13,018 shares of the oil and gas company’s stock after acquiring an additional 556 shares during the period. Holderness Investments Co.’s holdings in Schlumberger were worth $499,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

A number of brokerages recently commented on SLB. Stifel Nicolaus lowered their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. JPMorgan Chase & Co. raised their price target on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. Citigroup raised their target price on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, Piper Sandler started coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the transaction, the insider now owns 30,829 shares in the company, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction 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 completion of the transaction, 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 sold 290,772 shares of company stock worth $12,546,660 in the last 90 days. 0.26% of the stock is owned by company insiders.

Schlumberger Stock Performance

Shares of NYSE SLB opened at $41.29 on Friday. The company has a 50-day simple moving average of $41.13 and a 200-day simple moving average of $41.43. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company has a market cap of $56.14 billion, a PE ratio of 13.27, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating 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 company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same period in the previous year, the firm posted $0.86 EPS. Schlumberger’s revenue was up 3.3% on a year-over-year basis. On average, equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 2.76%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is presently 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.