Sovran Advisors LLC Buys New Stake in Schlumberger Limited (NYSE:SLB)

Sovran Advisors LLC acquired a new stake in shares of Schlumberger Limited (NYSE:SLB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 63,847 shares of the oil and gas company’s stock, valued at approximately $2,546,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. ORG Partners LLC increased its holdings 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 acquiring an additional 484 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Schlumberger in the 3rd quarter worth about $29,000. YANKCOM Partnership acquired a new stake in Schlumberger during the 4th quarter valued at $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger in the 4th quarter valued at approximately $32,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Schlumberger during the 3rd quarter worth about $37,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Susquehanna dropped their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Piper Sandler initiated coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target on the stock. Royal Bank of Canada restated an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a research report on Tuesday, January 21st. Finally, Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Six equities research 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 company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Trading Up 2.6 %

Shares of NYSE SLB opened at $41.19 on Tuesday. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The business has a fifty day simple moving average of $40.17 and a two-hundred day simple moving average of $42.19. The firm has a market cap of $57.71 billion, a PE ratio of 13.25, a price-to-earnings-growth ratio of 9.49 and a beta of 1.51. 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 issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $9.24 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Schlumberger’s revenue for the quarter was up 3.3% on a year-over-year basis. Analysts expect that Schlumberger Limited will post 3.38 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. 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 is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.77%. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

Insiders Place Their Bets

In other news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the sale, the insider now owns 30,829 shares of the company’s stock, valued at $1,245,799.89. The trade was a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the sale, the executive vice president now directly owns 210,502 shares in the company, valued at $8,723,202.88. This represents a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 263,782 shares of company stock worth $11,442,229 in the last ninety days. 0.26% of the stock is owned by corporate insiders.

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.