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

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

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

Schlumberger Stock Up 0.6 %

Shares of NYSE SLB opened at $40.86 on Friday. The stock has a market capitalization of $55.56 billion, a PE ratio of 13.14, a P/E/G ratio of 10.10 and a beta of 1.51. 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 firm has a fifty day moving average of $40.41 and a 200-day moving average of $41.84. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69.

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 analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 earnings per share. On average, analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The firm 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 represents a $1.14 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is 36.66%.

Insider Activity at Schlumberger

In other news, insider Gavin Rennick sold 26,990 shares of the stock in a transaction on 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 represents a 33.50 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the transaction, the insider now owns 30,829 shares in the company, valued at $1,245,799.89. The trade was a 15.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 290,772 shares of company stock worth $12,546,660. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on SLB shares. Citigroup raised their price target on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Jefferies Financial Group cut their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Wells Fargo & Company decreased their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Finally, Piper Sandler initiated coverage on shares of Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

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.