Crossmark Global Holdings Inc. Raises Stake in Schlumberger Limited (NYSE:SLB)

Crossmark Global Holdings Inc. increased its stake in Schlumberger Limited (NYSE:SLB) by 265.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 220,454 shares of the oil and gas company’s stock after buying an additional 160,049 shares during the period. Crossmark Global Holdings Inc.’s holdings in Schlumberger were worth $8,453,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC grew its stake in Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares in the last quarter. Prospera Private Wealth LLC bought a new position in Schlumberger in the third quarter worth approximately $29,000. Ashton Thomas Securities LLC purchased a new position in Schlumberger during the 3rd quarter worth $37,000. DiNuzzo Private Wealth Inc. raised its position in Schlumberger by 1,068.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP purchased a new stake in shares of Schlumberger in the 3rd quarter worth $47,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 0.4 %

Shares of Schlumberger stock opened at $43.76 on Wednesday. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The firm’s 50 day simple moving average is $40.84 and its two-hundred day simple moving average is $42.81. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $61.80 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 3.61 and a beta of 1.52.

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 the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9,241,140 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm’s 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. Analysts predict that Schlumberger Limited will post 3.29 EPS for the current 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 issued a dividend of $0.285 per share. This is an increase 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 dividend yield of 2.60%. Schlumberger’s payout ratio is 36.66%.

Analyst Ratings Changes

Several research firms recently weighed in on SLB. Piper Sandler initiated coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a research report on Tuesday. TD Cowen lifted their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the transaction, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 258,258 shares of company stock worth $11,246,604. 0.26% of the stock is owned by company insiders.

Schlumberger Company 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.