Avior Wealth Management LLC Increases Stock Position in Schlumberger Limited (NYSE:SLB)

Avior Wealth Management LLC grew its position in shares of Schlumberger Limited (NYSE:SLB) by 41.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,862 shares of the oil and gas company’s stock after purchasing an additional 3,498 shares during the quarter. Avior Wealth Management LLC’s holdings in Schlumberger were worth $498,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC grew its stake in Schlumberger by 26.4% during the 2nd quarter. AQR Capital Management LLC now owns 557,533 shares of the oil and gas company’s stock worth $26,210,000 after buying an additional 116,284 shares during the last quarter. APG Asset Management N.V. boosted its holdings in shares of Schlumberger by 8.4% in the second quarter. APG Asset Management N.V. now owns 150,796 shares of the oil and gas company’s stock valued at $6,638,000 after acquiring an additional 11,735 shares during the period. Daymark Wealth Partners LLC grew its position in shares of Schlumberger by 5.5% during the second quarter. Daymark Wealth Partners LLC now owns 14,479 shares of the oil and gas company’s stock worth $683,000 after acquiring an additional 753 shares during the last quarter. Lighthouse Investment Partners LLC acquired a new position in shares of Schlumberger in the 2nd quarter valued at $1,180,000. Finally, Legal & General Group Plc raised its position in Schlumberger by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Trading Up 0.6 %

NYSE:SLB opened at $42.30 on Friday. The company has a market capitalization of $59.25 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 9.98 and a beta of 1.52. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The stock has a fifty day simple moving average of $40.74 and a 200-day simple moving average of $42.75. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $9,241,140 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts expect that Schlumberger Limited will post 3.34 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.70%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s payout ratio is 36.66%.

Insider Activity

In other Schlumberger news, insider Dianne B. Ralston sold 43,161 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the transaction, the insider now owns 235,024 shares of the company’s stock, valued at $10,331,655.04. This represents a 15.52 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Ugo Prechner sold 7,000 shares of Schlumberger 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 directly owns 11,240 shares of the company’s stock, valued at approximately $496,808. This represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 198,258 shares of company stock worth $8,732,604 over the last three months. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

SLB has been the topic of a number of recent research reports. BMO Capital Markets dropped their price objective on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Royal Bank of Canada restated an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a research report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Piper Sandler started coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Finally, Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $55.81.

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.