Schlumberger Limited (NYSE:SLB) Shares Acquired by Argyle Capital Management LLC

Argyle Capital Management LLC raised its holdings in Schlumberger Limited (NYSE:SLB) by 20.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 42,316 shares of the oil and gas company’s stock after buying an additional 7,091 shares during the period. Argyle Capital Management LLC’s holdings in Schlumberger were worth $1,622,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Pacer Advisors Inc. grew its holdings in Schlumberger by 12,289.6% during the 4th 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Schlumberger by 20.6% during the third 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 worth $470,425,000 after purchasing an additional 1,916,851 shares in the last quarter. Scharf Investments LLC purchased a new position in Schlumberger in the fourth quarter valued at $52,607,000. Van ECK Associates Corp raised its stake in Schlumberger by 12.7% in the fourth quarter. Van ECK Associates Corp now owns 8,103,715 shares of the oil and gas company’s stock valued at $310,696,000 after buying an additional 915,925 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new stake in Schlumberger during the 3rd quarter worth about $37,322,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

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 on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the sale, the insider now owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. This trade represents a 15.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the transaction, the vice president now directly owns 11,240 shares in the company, valued at approximately $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 290,772 shares of company stock valued at $12,546,660. 0.26% of the stock is owned by corporate insiders.

Schlumberger Price Performance

Schlumberger stock opened at $40.86 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The business has a 50 day simple moving average of $40.41 and a 200-day simple moving average of $41.84. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The stock has a market capitalization of $55.56 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 10.10 and a beta of 1.51.

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

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.79%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of recent analyst reports. Piper Sandler assumed coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective on the stock. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. BMO Capital Markets dropped their price objective on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Finally, Barclays reduced their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Six research 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 stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.