Sterneck Capital Management LLC acquired a new position in shares of Schlumberger Limited (NYSE:SLB – Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 6,753 shares of the oil and gas company’s stock, valued at approximately $259,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in SLB. ORG Partners LLC boosted its position in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger during the third quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new stake in Schlumberger in the third quarter worth about $37,000. DiNuzzo Private Wealth Inc. grew its position in Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP bought a new stake in shares of Schlumberger during the 3rd quarter worth about $47,000. 81.99% of the stock is owned by institutional investors.
Insider Buying and Selling at Schlumberger
In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.26% of the company’s stock.
Schlumberger Stock Performance
Schlumberger (NYSE:SLB – Get Free Report) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.78 EPS. On average, sell-side analysts predict that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.
Schlumberger Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.80%. Schlumberger’s payout ratio is 35.37%.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the stock. Jefferies Financial Group lowered their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Piper Sandler began coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Susquehanna cut their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Citigroup lowered their target price on Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, Dbs Bank initiated coverage on shares of Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target for the company. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $58.25.
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.
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