Lowe Brockenbrough & Co. Inc. Sells 24,958 Shares of Schlumberger Limited (NYSE:SLB)

Lowe Brockenbrough & Co. Inc. reduced its position in Schlumberger Limited (NYSE:SLB) by 19.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 102,155 shares of the oil and gas company’s stock after selling 24,958 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Schlumberger were worth $3,952,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of SLB. Prospera Private Wealth LLC bought a new stake in Schlumberger during the third quarter valued at approximately $29,000. YANKCOM Partnership bought a new stake in Schlumberger during the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC bought a new stake in Schlumberger during the fourth quarter valued at approximately $32,000. Golden State Wealth Management LLC bought a new stake in Schlumberger during the fourth quarter valued at approximately $34,000. Finally, Hager Investment Management Services LLC bought a new stake in Schlumberger during the fourth quarter valued at approximately $38,000. 81.99% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Dianne B. Ralston sold 43,161 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the sale, the insider now owns 235,024 shares in the company, valued at approximately $10,331,655.04. The trade was a 15.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Gavin Rennick sold 26,990 shares of the business’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the sale, the insider now owns 53,584 shares in the company, valued at approximately $2,192,657.28. This trade represents a 33.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 290,772 shares of company stock worth $12,546,660. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SLB. 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 target price for the company. Evercore ISI reissued an “in-line” rating and set a $44.00 price target (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Barclays decreased their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. TD Cowen lifted their price target on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Stock Up 0.5 %

Shares of Schlumberger stock opened at $41.29 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’s fifty day simple moving average is $41.13 and its two-hundred day simple moving average is $41.43. The company has a market cap of $56.14 billion, a P/E ratio of 13.27, a PEG ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data 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 business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 EPS. Research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business also recently disclosed 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 an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is presently 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.