Transcend Capital Advisors LLC Raises Stock Holdings in Schlumberger Limited (NYSE:SLB)

Transcend Capital Advisors LLC lifted its holdings in shares of Schlumberger Limited (NYSE:SLB) by 43.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,881 shares of the oil and gas company’s stock after purchasing an additional 2,979 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Schlumberger were worth $379,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new position in shares of Schlumberger during the third quarter valued at approximately $29,000. YANKCOM Partnership purchased a new stake in shares of Schlumberger in the fourth quarter worth $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Schlumberger in the fourth quarter worth $32,000. Golden State Wealth Management LLC purchased a new stake in shares of Schlumberger during the fourth quarter valued at $34,000. Finally, Ashton Thomas Securities LLC purchased a new stake in shares of Schlumberger during the third quarter valued at $37,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

NYSE SLB opened at $41.73 on Monday. The stock has a market capitalization of $58.45 billion, a P/E ratio of 13.42, a P/E/G ratio of 10.10 and a beta of 1.51. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The business’s fifty day moving average is $40.20 and its two-hundred day moving average is $41.89. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

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

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.73%. Schlumberger’s dividend payout ratio is currently 36.66%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SLB shares. Piper Sandler started coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Citigroup increased their target price on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Barclays cut their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Jefferies Financial Group dropped their target price on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Finally, Stifel Nicolaus dropped their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the sale, the executive vice president now directly owns 210,502 shares of the company’s stock, valued at $8,723,202.88. This represents a 22.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 263,782 shares of company stock worth $11,442,229. Corporate insiders own 0.26% of the company’s stock.

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.