1,372,122 Shares in Schlumberger Limited (NYSE:SLB) Acquired by Scharf Investments LLC

Scharf Investments LLC purchased a new position in Schlumberger Limited (NYSE:SLB) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,372,122 shares of the oil and gas company’s stock, valued at approximately $52,607,000. Schlumberger comprises about 1.6% of Scharf Investments LLC’s portfolio, making the stock its 24th biggest position. Scharf Investments LLC owned approximately 0.10% of Schlumberger as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Grove Bank & Trust grew its stake in shares of Schlumberger by 17.4% during the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after purchasing an additional 224 shares in the last quarter. CX Institutional boosted its position in shares of Schlumberger by 2.4% during the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock worth $398,000 after acquiring an additional 244 shares in the last quarter. GM Advisory Group LLC increased its holdings in shares of Schlumberger by 3.8% in the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock valued at $281,000 after acquiring an additional 247 shares during the last quarter. Cordatus Wealth Management LLC raised its position in shares of Schlumberger by 2.1% during the 3rd quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock worth $561,000 after acquiring an additional 281 shares in the last quarter. Finally, OneDigital Investment Advisors LLC lifted its stake in Schlumberger by 0.7% during the third quarter. OneDigital Investment Advisors LLC now owns 40,715 shares of the oil and gas company’s stock worth $1,708,000 after purchasing an additional 284 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $40.21 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $40.58 and a 200 day moving average price of $42.63. 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 $56.32 billion, a P/E ratio of 12.93, a PEG ratio of 9.70 and a beta of 1.52.

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 analysts’ consensus estimates of $0.90 by $0.02. The firm 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 quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.86 earnings per share. Research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders 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 a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.84%. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the transaction, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. This trade represents a 15.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction 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 $8,723,202.88. This trade represents a 22.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 263,782 shares of company stock valued at $11,442,229. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SLB. TD Cowen raised their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Piper Sandler assumed coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Stifel Nicolaus decreased their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, BMO Capital Markets decreased their target price on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company 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.