Waters Parkerson & CO. LLC Has $2.28 Million Stock Position in Schlumberger Limited (NYSE:SLB)

Waters Parkerson & CO. LLC reduced its holdings in Schlumberger Limited (NYSE:SLBGet Rating) by 8.1% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 63,608 shares of the oil and gas company’s stock after selling 5,575 shares during the quarter. Waters Parkerson & CO. LLC’s holdings in Schlumberger were worth $2,284,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its position in shares of Schlumberger by 59.3% during the second quarter. Jennison Associates LLC now owns 28,917,488 shares of the oil and gas company’s stock worth $1,034,089,000 after buying an additional 10,761,322 shares during the period. FMR LLC increased its position in shares of Schlumberger by 44.9% during the second quarter. FMR LLC now owns 32,671,828 shares of the oil and gas company’s stock worth $1,168,374,000 after buying an additional 10,121,321 shares during the period. Allen Investment Management LLC increased its position in shares of Schlumberger by 32,149.8% during the second quarter. Allen Investment Management LLC now owns 6,498,016 shares of the oil and gas company’s stock worth $232,369,000 after buying an additional 6,477,867 shares during the period. Franklin Resources Inc. increased its position in shares of Schlumberger by 501.7% during the second quarter. Franklin Resources Inc. now owns 7,401,112 shares of the oil and gas company’s stock worth $264,665,000 after buying an additional 6,171,139 shares during the period. Finally, Mirabella Financial Services LLP increased its position in shares of Schlumberger by 4,920.1% during the third quarter. Mirabella Financial Services LLP now owns 4,487,500 shares of the oil and gas company’s stock worth $4,488,000 after buying an additional 4,398,110 shares during the period. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on SLB shares. Benchmark started coverage on shares of Schlumberger in a research report on Thursday, January 19th. They set a “buy” rating and a $65.00 price objective for the company. Citigroup increased their price objective on shares of Schlumberger from $62.00 to $67.00 and gave the stock a “buy” rating in a research report on Tuesday. The Goldman Sachs Group increased their target price on shares of Schlumberger from $46.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, October 25th. Morgan Stanley increased their target price on shares of Schlumberger from $52.00 to $55.00 and gave the stock an “overweight” rating in a research note on Monday, November 7th. Finally, Piper Sandler increased their target price on shares of Schlumberger from $60.00 to $64.00 and gave the stock an “overweight” rating in a research note on Friday, November 18th. Two equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $58.15.

Schlumberger Stock Down 0.1 %

Shares of SLB stock traded down $0.06 on Wednesday, hitting $55.41. The stock had a trading volume of 1,932,557 shares, compared to its average volume of 10,168,022. The business has a 50 day moving average of $52.95 and a 200 day moving average of $44.91. The stock has a market cap of $78.57 billion, a price-to-earnings ratio of 23.11, a price-to-earnings-growth ratio of 0.49 and a beta of 1.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.25 and a quick ratio of 0.92. Schlumberger Limited has a 12-month low of $30.65 and a 12-month high of $62.78.

Schlumberger (NYSE:SLBGet Rating) last announced its earnings results on Friday, January 20th. The oil and gas company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The company had revenue of $7.88 billion during the quarter, compared to the consensus estimate of $7.80 billion. Schlumberger had a net margin of 12.25% and a return on equity of 18.51%. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.41 earnings per share. As a group, analysts expect that Schlumberger Limited will post 3.01 EPS for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Wednesday, February 8th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, February 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.80%. This is an increase from Schlumberger’s previous quarterly dividend of $0.18. Schlumberger’s dividend payout ratio is currently 29.17%.

Insider Activity

In related news, CAO Howard Guild sold 20,053 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $53.00, for a total transaction of $1,062,809.00. Following the completion of the sale, the chief accounting officer now owns 35,994 shares in the company, valued at $1,907,682. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Howard Guild sold 20,053 shares of the firm’s stock in a transaction dated Monday, November 7th. The shares were sold at an average price of $53.00, for a total transaction of $1,062,809.00. Following the completion of the sale, the chief accounting officer now owns 35,994 shares in the company, valued at $1,907,682. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Kevin Fyfe sold 6,095 shares of the firm’s stock in a transaction dated Monday, November 7th. The stock was sold at an average price of $53.00, for a total transaction of $323,035.00. Following the sale, the vice president now owns 35,535 shares of the company’s stock, valued at approximately $1,883,355. The disclosure for this sale can be found here. Insiders sold a total of 269,389 shares of company stock worth $15,026,271 over the last quarter. Insiders own 0.28% of the company’s stock.

About Schlumberger

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Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s software and seismic businesses with its integrated offering of asset performance solutions.

See Also

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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