Generali Asset Management SPA SGR Purchases Shares of 214,582 Schlumberger Limited (NYSE:SLB)

Generali Asset Management SPA SGR bought a new stake in shares of Schlumberger Limited (NYSE:SLB) during the 4th quarter, according to its most recent filing with the SEC. The fund bought 214,582 shares of the oil and gas company’s stock, valued at approximately $8,227,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Horizon Investments LLC raised its stake in Schlumberger by 3.1% during the fourth quarter. Horizon Investments LLC now owns 22,303 shares of the oil and gas company’s stock worth $849,000 after acquiring an additional 671 shares in the last quarter. Delphi Management Inc. MA grew its holdings in shares of Schlumberger by 15.5% during the fourth quarter. Delphi Management Inc. MA now owns 35,334 shares of the oil and gas company’s stock worth $1,355,000 after purchasing an additional 4,755 shares during the last quarter. Aspen Wealth Strategies LLC increased its stake in shares of Schlumberger by 19.4% in the fourth quarter. Aspen Wealth Strategies LLC now owns 16,881 shares of the oil and gas company’s stock valued at $647,000 after buying an additional 2,742 shares in the last quarter. 1ST Source Bank raised its holdings in shares of Schlumberger by 3.2% in the fourth quarter. 1ST Source Bank now owns 10,885 shares of the oil and gas company’s stock valued at $417,000 after buying an additional 336 shares during the last quarter. Finally, Cibc World Markets Corp grew its holdings in Schlumberger by 119.1% during the 4th quarter. Cibc World Markets Corp now owns 506,642 shares of the oil and gas company’s stock worth $19,425,000 after acquiring an additional 275,352 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SLB shares. Jefferies Financial Group lowered their price target on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. BMO Capital Markets lowered their price objective on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Stifel Nicolaus cut their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a research report on Tuesday, January 21st. Finally, Piper Sandler initiated coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Schlumberger has an average rating of “Moderate Buy” and an average target price of $55.81.

Insider Activity

In related news, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The stock was 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 trade represents a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the company’s stock in a transaction that occurred 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 in the company, valued at $2,192,657.28. This represents a 33.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 290,772 shares of company stock valued at $12,546,660 in the last quarter. Company insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 0.8 %

Shares of NYSE:SLB opened at $41.42 on Tuesday. The stock has a market capitalization of $56.32 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The company’s 50-day moving average price is $41.00 and its two-hundred day moving average price is $41.46. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same period in the prior year, the firm posted $0.86 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.75%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio is 36.66%.

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.