8,402 Shares in Schlumberger Limited (NYSE:SLB) Purchased by Patten & Patten Inc. TN

Patten & Patten Inc. TN purchased a new position in shares of Schlumberger Limited (NYSE:SLB) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,402 shares of the oil and gas company’s stock, valued at approximately $322,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Prospera Private Wealth LLC bought a new stake in Schlumberger during the 3rd quarter worth about $29,000. YANKCOM Partnership bought a new stake in Schlumberger during the 4th quarter worth about $31,000. Stonebridge Financial Group LLC bought a new stake in Schlumberger during the 4th quarter worth about $32,000. Golden State Wealth Management LLC bought a new stake in Schlumberger during the 4th quarter worth about $34,000. Finally, Hager Investment Management Services LLC bought a new stake in Schlumberger during the 4th quarter worth about $38,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In other news, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the sale, the executive vice president now owns 184,626 shares of the company’s stock, valued at approximately $8,140,160.34. This represents a 40.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dianne B. Ralston sold 43,161 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the sale, the insider now directly owns 235,024 shares of the company’s stock, valued at approximately $10,331,655.04. The trade was a 15.52 % 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.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SLB. BMO Capital Markets dropped their price objective on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Evercore ISI reissued an “in-line” rating and set a $44.00 price objective (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Piper Sandler started coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Finally, Citigroup upped their price target on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $55.81.

Schlumberger Trading Up 2.9 %

NYSE:SLB opened at $41.10 on Monday. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. 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 has a 50 day moving average price of $40.95 and a two-hundred day moving average price of $41.48. The company has a market cap of $55.89 billion, a P/E ratio of 13.21, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47.

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

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.77%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is 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.