Schlumberger Limited (NYSE:SLB) Stock Holdings Lifted by Harbour Investments Inc.

Harbour Investments Inc. lifted its stake in shares of Schlumberger Limited (NYSE:SLB) by 24.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,904 shares of the oil and gas company’s stock after acquiring an additional 567 shares during the quarter. Harbour Investments Inc.’s holdings in Schlumberger were worth $111,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SLB. CX Institutional boosted its stake in Schlumberger by 2.4% in the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock worth $398,000 after purchasing an additional 244 shares during the period. TCW Group Inc. boosted its position in shares of Schlumberger by 1.3% in the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock worth $759,000 after buying an additional 259 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Schlumberger by 0.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock valued at $2,174,000 after buying an additional 262 shares in the last quarter. Cromwell Holdings LLC raised its position in Schlumberger by 7.0% during the fourth quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock valued at $167,000 after buying an additional 283 shares during the period. Finally, Mitchell Mcleod Pugh & Williams Inc. lifted its stake in Schlumberger by 2.0% in the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,775 shares of the oil and gas company’s stock worth $566,000 after acquiring an additional 293 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Schlumberger

In other news, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the sale, the vice president now directly owns 11,240 shares in the company, valued at approximately $496,808. This represents a 38.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Gavin Rennick sold 26,990 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value of $1,104,430.80. Following the completion of the sale, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. This trade represents a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 290,772 shares of company stock valued at $12,546,660. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB opened at $41.09 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The firm’s 50-day moving average is $41.18 and its 200-day moving average is $41.41. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a market cap of $55.87 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 EPS. Equities research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a $0.285 dividend. 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 dividend yield of 2.77%. Schlumberger’s dividend payout ratio is currently 36.66%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SLB shares. Piper Sandler initiated coverage on Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. boosted their price target on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Finally, Wells Fargo & Company cut their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average price target of $55.81.

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.