GQG Partners LLC Has $3.61 Million Stake in Schlumberger Limited (NYSE:SLB)

GQG Partners LLC reduced its stake in Schlumberger Limited (NYSE:SLB) by 99.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 94,045 shares of the oil and gas company’s stock after selling 9,920,997 shares during the quarter. GQG Partners LLC’s holdings in Schlumberger were worth $3,606,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. YANKCOM Partnership bought a new stake in shares of Schlumberger in the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC bought a new stake in Schlumberger in the 4th quarter valued at approximately $32,000. Golden State Wealth Management LLC bought a new stake in Schlumberger in the 4th quarter valued at approximately $34,000. Hager Investment Management Services LLC bought a new position in shares of Schlumberger during the 4th quarter worth approximately $38,000. Finally, Bogart Wealth LLC grew its stake in shares of Schlumberger by 468.9% during the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 844 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Evercore ISI reaffirmed an “in-line” rating and issued a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Stifel Nicolaus decreased their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Wells Fargo & Company lowered their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Piper Sandler initiated coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price target on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Stock Up 1.8 %

Shares of SLB opened at $41.73 on Tuesday. The firm has a market cap of $56.74 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The firm’s 50-day simple moving average is $41.22 and its 200 day simple moving average is $41.41.

Schlumberger (NYSE:SLB) last posted its earnings results 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 company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. On average, analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.73%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

Insider Activity

In other Schlumberger news, insider Dianne B. Ralston sold 43,161 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the sale, the insider now owns 235,024 shares of the company’s stock, valued at $10,331,655.04. The trade was a 15.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction that occurred 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 transaction, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 290,772 shares of company stock valued at $12,546,660. 0.26% of the stock is owned by company insiders.

Schlumberger Company 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.