Brighton Jones LLC boosted its holdings in Schlumberger Limited (NYSE:SLB – Free Report) by 21.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,611 shares of the oil and gas company’s stock after acquiring an additional 1,166 shares during the quarter. Brighton Jones LLC’s holdings in Schlumberger were worth $253,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Partners LLC boosted its holdings in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the period. Prospera Private Wealth LLC acquired a new stake in Schlumberger in the 3rd quarter worth $29,000. Ashton Thomas Securities LLC bought a new position in Schlumberger in the third quarter worth $37,000. DiNuzzo Private Wealth Inc. boosted its holdings in Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP acquired a new stake in shares of Schlumberger during the 3rd quarter worth about $47,000. 81.99% of the stock is currently owned by institutional investors.
Schlumberger Trading Up 0.7 %
Schlumberger stock opened at $42.55 on Tuesday. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The stock has a market cap of $60.08 billion, a PE ratio of 13.68, a P/E/G ratio of 9.98 and a beta of 1.52. The stock has a 50-day moving average price of $40.74 and a 200 day moving average price of $42.72. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.
Schlumberger Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This is a positive change 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 annualized dividend and a yield of 2.68%. Schlumberger’s dividend payout ratio is 35.37%.
Analyst Ratings Changes
SLB has been the subject of several research reports. Bank of America lowered their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. Citigroup boosted their price target on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Piper Sandler initiated coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective 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. Finally, Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.81.
Read Our Latest Research Report on Schlumberger
Insider Transactions at Schlumberger
In related news, insider Dianne B. Ralston sold 43,161 shares of the company’s stock in a transaction on 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 directly owns 235,024 shares in the company, valued at approximately $10,331,655.04. This represents a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger 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 completion of the transaction, the director now owns 49,595 shares in the company, 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. Over the last quarter, insiders sold 198,258 shares of company stock worth $8,732,604. Insiders own 0.26% of the company’s stock.
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.
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