Commerzbank Aktiengesellschaft FI Increases Stock Position in Schlumberger Limited (NYSE:SLB)

Commerzbank Aktiengesellschaft FI grew its stake in Schlumberger Limited (NYSE:SLB) by 2.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 51,526 shares of the oil and gas company’s stock after acquiring an additional 1,306 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Schlumberger were worth $1,976,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Financial Advocates Investment Management lifted its stake in Schlumberger by 11.5% during the third quarter. Financial Advocates Investment Management now owns 7,311 shares of the oil and gas company’s stock worth $307,000 after purchasing an additional 753 shares in the last quarter. Stephens Inc. AR raised its holdings in shares of Schlumberger by 37.3% in the 3rd quarter. Stephens Inc. AR now owns 14,035 shares of the oil and gas company’s stock valued at $589,000 after buying an additional 3,812 shares during the period. Janney Montgomery Scott LLC lifted its stake in Schlumberger by 24.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 261,421 shares of the oil and gas company’s stock worth $10,967,000 after acquiring an additional 52,134 shares in the last quarter. Forum Financial Management LP boosted its holdings in Schlumberger by 1.7% during the 3rd quarter. Forum Financial Management LP now owns 19,417 shares of the oil and gas company’s stock valued at $815,000 after acquiring an additional 329 shares during the period. Finally, KG&L Capital Management LLC grew its position in Schlumberger by 49.4% in the 3rd quarter. KG&L Capital Management LLC now owns 20,379 shares of the oil and gas company’s stock valued at $909,000 after acquiring an additional 6,735 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Schlumberger

In related news, insider Bejar Carmen Rando sold 5,524 shares of the 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 completion of the sale, the insider now owns 30,829 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger 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 completion of the transaction, the director now owns 49,595 shares in the company, valued at approximately $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. Over the last ninety days, insiders have sold 290,772 shares of company stock worth $12,546,660. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on SLB shares. Piper Sandler began coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Evercore ISI reiterated an “in-line” rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Wells Fargo & Company reduced their price objective on 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, Royal Bank of Canada reissued an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research note 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, the company currently has an average rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $39.81 on Tuesday. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The firm has a market capitalization of $54.14 billion, a P/E ratio of 12.80, a P/E/G ratio of 10.10 and a beta of 1.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company’s fifty day moving average price is $40.56 and its 200 day moving average price is $41.76.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business 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 business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 earnings per share. As a group, sell-side analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.86%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio is presently 36.66%.

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.