Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Schlumberger Limited (NYSE:SLB – Free Report) by 10.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,637 shares of the oil and gas company’s stock after purchasing an additional 4,594 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Schlumberger were worth $1,788,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in SLB. Prospera Private Wealth LLC bought a new position in Schlumberger during the 3rd quarter valued at about $29,000. YANKCOM Partnership bought a new position in Schlumberger during the 4th quarter valued at about $31,000. Stonebridge Financial Group LLC bought a new position in Schlumberger during the 4th quarter valued at about $32,000. Golden State Wealth Management LLC bought a new position in Schlumberger during the 4th quarter valued at about $34,000. Finally, Ashton Thomas Securities LLC bought a new position in Schlumberger during the 3rd quarter valued at about $37,000. 81.99% of the stock is currently owned by institutional investors.
Schlumberger Trading Up 2.1 %
NYSE:SLB opened at $42.63 on Wednesday. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The firm has a 50 day moving average of $40.12 and a 200 day moving average of $41.91. 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 stock has a market capitalization of $59.71 billion, a price-to-earnings ratio of 13.71, a PEG ratio of 9.90 and a beta of 1.51.
Schlumberger Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. 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 2.67%. Schlumberger’s dividend payout ratio is presently 36.66%.
Analysts Set New Price Targets
A number of brokerages have commented on SLB. JPMorgan Chase & Co. upped their target price on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Barclays dropped their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. Piper Sandler began coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Finally, Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $55.81.
View Our Latest Research Report on Schlumberger
Insider Activity at Schlumberger
In other news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the sale, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Ugo Prechner sold 7,000 shares of the company’s 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 transaction, the vice president now directly owns 11,240 shares in the company, valued at approximately $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 263,782 shares of company stock valued at $11,442,229 over the last 90 days. Insiders own 0.26% of the company’s stock.
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.
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