Baker Ellis Asset Management LLC Purchases New Shares in Schlumberger Limited (NYSE:SLB)

Baker Ellis Asset Management LLC purchased a new stake in Schlumberger Limited (NYSE:SLB) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 11,925 shares of the oil and gas company’s stock, valued at approximately $457,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Schlumberger by 20.6% in 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 purchasing an additional 1,916,851 shares during the period. Legal & General Group Plc grew its position in shares of Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after buying an additional 1,560,684 shares during the period. Merewether Investment Management LP acquired a new position in shares of Schlumberger during the 2nd quarter worth about $42,957,000. Weiss Asset Management LP acquired a new position in shares of Schlumberger during the 3rd quarter worth about $37,322,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Schlumberger by 395.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 778,938 shares of the oil and gas company’s stock worth $32,676,000 after buying an additional 621,809 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SLB has been the subject of several analyst reports. Wells Fargo & Company decreased their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Jefferies Financial Group decreased their target price on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Piper Sandler assumed coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a research report on Tuesday. Finally, JPMorgan Chase & Co. boosted their price objective on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $55.81.

Insider Activity at Schlumberger

In related news, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the sale, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ugo Prechner sold 7,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were 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 in the company, valued at approximately $496,808. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 198,258 shares of company stock worth $8,732,604. Company insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 4.8 %

Shares of Schlumberger stock opened at $41.62 on Thursday. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The stock has a market cap of $58.78 billion, a P/E ratio of 13.38, a P/E/G ratio of 3.58 and a beta of 1.52. 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 business’s 50 day moving average is $40.83 and its 200-day moving average is $42.80.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts predict that Schlumberger Limited will post 3.33 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors 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 2.74%. The ex-dividend date of this dividend is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is 35.37%.

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.