Newbridge Financial Services Group Inc. Makes New Investment in Schlumberger Limited (NYSE:SLB)

Newbridge Financial Services Group Inc. purchased a new stake in shares of Schlumberger Limited (NYSE:SLB) during the 4th quarter, HoldingsChannel.com reports. The fund purchased 1,852 shares of the oil and gas company’s stock, valued at approximately $71,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in SLB. ORG Partners LLC increased its position in Schlumberger by 393.5% during 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 during the period. Prospera Private Wealth LLC purchased a new stake in shares of Schlumberger in the 3rd quarter worth approximately $29,000. YANKCOM Partnership purchased a new position in Schlumberger during the fourth quarter valued at approximately $31,000. Golden State Wealth Management LLC bought a new position in Schlumberger in the fourth quarter worth approximately $34,000. Finally, Ashton Thomas Securities LLC purchased a new stake in Schlumberger during the third quarter worth $37,000. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SLB shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a report on Tuesday, January 21st. Piper Sandler initiated coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. JPMorgan Chase & Co. increased their price target on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Jefferies Financial Group cut their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Finally, TD Cowen increased their target price on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $55.81.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the transaction, the executive vice president now directly owns 210,502 shares of the company’s stock, valued at $8,723,202.88. The trade was a 22.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $1,098,500.00. Following the sale, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock valued at $11,442,229 in the last quarter. 0.26% of the stock is currently owned by company insiders.

Schlumberger Trading Up 2.6 %

Schlumberger stock opened at $41.19 on Tuesday. The stock has a 50-day moving average price of $40.17 and a 200 day moving average price of $42.19. The company has a market capitalization of $57.71 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 9.49 and a beta of 1.51. Schlumberger Limited has a 52 week low of $36.52 and a 52 week 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.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 EPS. Sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business 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. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.77%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

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.