Schlumberger Limited (NYSE:SLB) Shares Bought by Inlet Private Wealth LLC

Inlet Private Wealth LLC increased its position in Schlumberger Limited (NYSE:SLB) by 82.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,690 shares of the oil and gas company’s stock after buying an additional 8,900 shares during the period. Inlet Private Wealth LLC’s holdings in Schlumberger were worth $755,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Independence Bank of Kentucky grew its holdings in Schlumberger by 3.5% in the 4th quarter. Independence Bank of Kentucky now owns 22,770 shares of the oil and gas company’s stock valued at $873,000 after buying an additional 760 shares during the period. New Millennium Group LLC boosted its position in shares of Schlumberger by 17.9% in the fourth quarter. New Millennium Group LLC now owns 11,532 shares of the oil and gas company’s stock worth $442,000 after acquiring an additional 1,754 shares during the last quarter. Waldron Private Wealth LLC increased its position in Schlumberger by 0.8% during the fourth quarter. Waldron Private Wealth LLC now owns 39,026 shares of the oil and gas company’s stock worth $1,496,000 after purchasing an additional 304 shares during the last quarter. Scharf Investments LLC purchased a new position in Schlumberger during the fourth quarter worth approximately $52,607,000. Finally, Heck Capital Advisors LLC acquired a new position in shares of Schlumberger in the 4th quarter valued at $47,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Jefferies Financial Group dropped their price objective on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. TD Cowen upped their target price on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a report on Tuesday, January 21st. Finally, Piper Sandler initiated coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. 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 company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Stock Performance

NYSE:SLB opened at $40.21 on Friday. 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 company has a 50-day moving average of $40.49 and a 200-day moving average of $42.58. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The firm has a market cap of $56.32 billion, a price-to-earnings ratio of 12.93, a price-to-earnings-growth ratio of 9.70 and a beta of 1.52.

Schlumberger (NYSE:SLB) last posted its quarterly 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 company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 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 quarter in the prior year, the company earned $0.86 earnings per share. Analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared 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. This is a positive change 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 2.84%. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the transaction, the insider now directly owns 30,829 shares of the company’s stock, valued at $1,245,799.89. This represents a 15.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the sale, the vice president now owns 11,240 shares of the company’s stock, valued at approximately $496,808. This represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 263,782 shares of company stock valued at $11,442,229 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

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.