Barings LLC Buys Shares of 63,154 Schlumberger Limited (NYSE:SLB)

Barings LLC bought a new stake in Schlumberger Limited (NYSE:SLB) in the 4th quarter, HoldingsChannel reports. The fund bought 63,154 shares of the oil and gas company’s stock, valued at approximately $2,421,000.

Several other institutional investors also recently bought and sold shares of SLB. Prospera Private Wealth LLC purchased a new position in shares of Schlumberger in the third quarter worth $29,000. YANKCOM Partnership purchased a new position in shares of Schlumberger in the fourth quarter worth $31,000. Stonebridge Financial Group LLC purchased a new position in shares of Schlumberger in the fourth quarter worth $32,000. Golden State Wealth Management LLC purchased a new position in shares of Schlumberger in the fourth quarter worth $34,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Schlumberger in the third quarter worth $37,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the sale, the executive vice president now owns 210,502 shares in the company, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the sale, the insider now owns 235,024 shares in the company, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock worth $12,546,660 over the last 90 days. 0.26% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SLB shares. Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Wells Fargo & Company decreased their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. BMO Capital Markets reduced their target price on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Finally, Piper Sandler started coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price for the company. 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 data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Stock Up 4.0 %

SLB opened at $41.36 on Friday. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The company has a fifty day moving average of $40.73 and a two-hundred day moving average of $41.64. The stock has a market capitalization of $56.25 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last released its quarterly earnings data 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 net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a $0.285 dividend. 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. This represents a $1.14 annualized dividend and a dividend yield of 2.76%. Schlumberger’s dividend payout ratio (DPR) is 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.