By otakuyassine3@gmail.com 
Oak Harvest Investment Services cut its holdings in Schlumberger Limited (NYSE:SLB – Free Report) by 4.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 171,256 shares of the oil and gas company’s stock after selling 7,854 shares during the quarter. Oak Harvest Investment Services’ holdings in Schlumberger were worth $6,566,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of SLB. State Street Corp lifted its position in shares of Schlumberger by 0.6% during the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after purchasing an additional 528,279 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Schlumberger by 0.8% in the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock worth $1,195,290,000 after acquiring an additional 239,966 shares during the last quarter. Pacer Advisors Inc. increased its position in Schlumberger by 12,289.6% during the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock worth $500,082,000 after acquiring an additional 12,938,082 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after purchasing an additional 1,916,851 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Schlumberger by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock worth $335,214,000 after purchasing an additional 31,718 shares during the period. 81.99% of the stock is currently owned by institutional investors.
Insider Transactions at Schlumberger
In other news, VP Ugo Prechner sold 7,000 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the transaction, the vice president now directly owns 11,240 shares in the company, valued at $496,808. This represents a 38.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the sale, the executive vice president now directly owns 210,502 shares in the company, valued at approximately $8,723,202.88. This represents a 22.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 258,258 shares of company stock valued at $11,219,004 over the last 90 days. 0.26% of the stock is owned by corporate insiders.
Schlumberger Trading Up 0.2 %
SLB opened at $41.03 on Friday. The stock has a market capitalization of $57.47 billion, a P/E ratio of 13.19, a P/E/G ratio of 9.70 and a beta of 1.52. 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 Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The firm’s fifty day simple moving average is $40.64 and its 200 day simple moving average is $42.65.
Schlumberger (NYSE:SLB – Get Free Report) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same period in the previous year, the company posted $0.86 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal 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 issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.78%. Schlumberger’s dividend payout ratio (DPR) is 35.37%.
Analyst Upgrades and Downgrades
Several equities analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Piper Sandler assumed coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. TD Cowen increased their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Barclays lowered 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. Six investment 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 company. Based on data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus price target of $55.81.
View Our Latest Stock Report on Schlumberger
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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