Brown Brothers Harriman & Co. Boosts Stock Position in Schlumberger Limited (NYSE:SLB)

Brown Brothers Harriman & Co. raised its stake in Schlumberger Limited (NYSE:SLB) by 18.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 21,941 shares of the oil and gas company’s stock after purchasing an additional 3,440 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Schlumberger were worth $841,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SLB. YANKCOM Partnership acquired a new position in Schlumberger in the 4th quarter valued at $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Schlumberger in the fourth quarter valued at about $32,000. Golden State Wealth Management LLC acquired a new position in shares of Schlumberger during the fourth quarter worth about $34,000. Hager Investment Management Services LLC purchased a new position in Schlumberger during the fourth quarter worth about $38,000. Finally, Bogart Wealth LLC lifted its position in Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 844 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Performance

NYSE SLB opened at $41.87 on Monday. 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 stock has a market cap of $56.93 billion, a price-to-earnings ratio of 13.46, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.65. The business has a fifty day moving average of $41.29 and a 200-day moving average of $41.47.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS. As a group, 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. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.72%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Insiders Place Their Bets

In related news, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the transaction, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value 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 trade represents a 33.50 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 290,772 shares of company stock valued at $12,546,660. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

SLB has been the topic of several recent analyst reports. Evercore ISI reiterated an “in-line” rating and set a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Piper Sandler initiated coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. TD Cowen boosted their target price on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. BMO Capital Markets lowered their price target on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $55.69.

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.