State of Alaska Department of Revenue Has $6.17 Million Stock Position in Schlumberger Limited (NYSE:SLB)

State of Alaska Department of Revenue cut its holdings in Schlumberger Limited (NYSE:SLB) by 2.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 160,999 shares of the oil and gas company’s stock after selling 3,995 shares during the quarter. State of Alaska Department of Revenue’s holdings in Schlumberger were worth $6,172,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC boosted its stake in shares of Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Schlumberger in the 3rd quarter valued at approximately $29,000. YANKCOM Partnership acquired a new stake in Schlumberger in the fourth quarter valued at approximately $31,000. Ashton Thomas Securities LLC bought a new stake in shares of Schlumberger during the third quarter worth $37,000. Finally, Hager Investment Management Services LLC acquired a new position in shares of Schlumberger during the fourth quarter worth $38,000. Institutional investors own 81.99% of the company’s stock.

Insider Activity

In related 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 value of $1,897,357.56. Following the transaction, the insider now directly owns 235,024 shares in the company, valued at $10,331,655.04. This trade represents a 15.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock worth $11,442,229 in the last three months. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on SLB. Royal Bank of Canada reissued an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. Stifel Nicolaus reduced their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Piper Sandler began coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Susquehanna cut their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Finally, Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $55.81.

Schlumberger Trading Up 0.3 %

Shares of SLB stock opened at $40.15 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 stock has a 50 day simple moving average of $40.25 and a two-hundred day simple moving average of $42.35. The company has a market cap of $56.25 billion, a P/E ratio of 12.91, a PEG ratio of 9.55 and a beta of 1.51.

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 the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.86 EPS. Research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.84%. 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%.

Schlumberger 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.