McCollum Christoferson Group LLC Decreases Stock Holdings in Schlumberger Limited (NYSE:SLB)

McCollum Christoferson Group LLC lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 0.6% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 95,290 shares of the oil and gas company’s stock after selling 570 shares during the quarter. McCollum Christoferson Group LLC’s holdings in Schlumberger were worth $3,653,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Commerce Bank grew its stake in shares of Schlumberger by 1.5% in the third quarter. Commerce Bank now owns 64,605 shares of the oil and gas company’s stock worth $2,710,000 after purchasing an additional 958 shares during the last quarter. Landscape Capital Management L.L.C. bought a new stake in shares of Schlumberger in the 3rd quarter worth approximately $680,000. Raymond James Trust N.A. grew its position in shares of Schlumberger by 88.8% in the 3rd quarter. Raymond James Trust N.A. now owns 45,375 shares of the oil and gas company’s stock worth $1,903,000 after buying an additional 21,347 shares during the last quarter. Icon Wealth Advisors LLC bought a new position in shares of Schlumberger during the third quarter valued at approximately $258,000. Finally, Nicolet Advisory Services LLC lifted its stake in Schlumberger by 2.6% in the third quarter. Nicolet Advisory Services LLC now owns 19,245 shares of the oil and gas company’s stock worth $864,000 after acquiring an additional 480 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on SLB. Citigroup upped their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Jefferies Financial Group lowered their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. BMO Capital Markets reduced their target price on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Piper Sandler initiated coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. Finally, Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Six 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Insiders Place Their Bets

In other 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 transaction, the vice president now directly owns 11,240 shares in the company, valued at $496,808. This trade represents a 38.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the company’s 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 sale, the insider now owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. This trade represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 290,772 shares of company stock valued at $12,546,660. 0.26% of the stock is owned by insiders.

Schlumberger Trading Down 0.5 %

NYSE:SLB opened at $41.09 on Monday. The stock has a market cap of $55.87 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 10.10 and a beta of 1.47. 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 company’s 50 day moving average price is $41.18 and its 200-day moving average price is $41.41. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69.

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

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 2.77%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

About Schlumberger

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.