1,392 Shares in Schlumberger Limited (NYSE:SLB) Acquired by Wingate Wealth Advisors Inc.

Wingate Wealth Advisors Inc. purchased a new position in shares of Schlumberger Limited (NYSE:SLB) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 1,392 shares of the oil and gas company’s stock, valued at approximately $53,000.

Other large investors also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Schlumberger by 25.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after buying an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of Schlumberger by 27.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after buying an additional 16,350 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after buying an additional 65,318 shares during the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after buying an additional 14,376 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Schlumberger by 26.0% during the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock worth $12,880,000 after buying an additional 63,413 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Price Performance

Shares of SLB stock opened at $41.19 on Tuesday. The stock’s fifty day moving average is $40.17 and its 200-day moving average is $42.19. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The stock has a market capitalization of $57.71 billion, a PE ratio of 13.25, a PEG ratio of 9.49 and a beta of 1.51. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The company 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 for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. Equities research analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is presently 36.66%.

Insider Activity

In other news, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction on 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 transaction, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the transaction, the executive vice president now directly owns 210,502 shares in the company, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 263,782 shares of company stock valued at $11,442,229 over the last 90 days. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SLB. Stifel Nicolaus cut their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Piper Sandler initiated coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. Susquehanna cut their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Finally, Citigroup upped their target price on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.