Larson Financial Group LLC Acquires 3,935 Shares of Schlumberger Limited (NYSE:SLB)

Larson Financial Group LLC lifted its holdings in Schlumberger Limited (NYSE:SLB) by 798.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,428 shares of the oil and gas company’s stock after buying an additional 3,935 shares during the period. Larson Financial Group LLC’s holdings in Schlumberger were worth $170,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. State Street Corp increased its holdings in shares of Schlumberger by 0.6% in 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 buying an additional 528,279 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Schlumberger by 0.8% in the 3rd 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 buying an additional 239,966 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Schlumberger by 12,289.6% in 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 buying an additional 12,938,082 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Schlumberger by 20.6% during 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 last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Schlumberger by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,244,975 shares of the oil and gas company’s stock valued at $316,112,000 after purchasing an additional 254,178 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Price Performance

Shares of SLB opened at $40.09 on Wednesday. The company has a 50 day moving average price of $40.83 and a 200-day moving average price of $41.57. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The stock has a market capitalization of $54.51 billion, a PE ratio of 12.89, a PEG ratio of 10.10 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results 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. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. Equities analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.84%. Schlumberger’s dividend payout ratio is presently 36.66%.

Insider Activity at Schlumberger

In related news, insider Gavin Rennick sold 26,990 shares of the stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the sale, the insider now owns 53,584 shares of the company’s stock, valued at $2,192,657.28. This represents a 33.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Ugo Prechner sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the sale, the vice president now directly owns 11,240 shares of the company’s stock, valued at $496,808. The trade was a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock valued at $12,546,660 over the last 90 days. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on SLB. Stifel Nicolaus cut their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Citigroup upped their price target on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Piper Sandler began coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Finally, JPMorgan Chase & Co. upped 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. Six equities 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 company. According to data from MarketBeat.com, the company currently 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.