Lee Danner & Bass Inc. Has $5.63 Million Holdings in Schlumberger Limited (NYSE:SLB)

Lee Danner & Bass Inc. raised its holdings in shares of Schlumberger Limited (NYSE:SLB) by 40.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 146,902 shares of the oil and gas company’s stock after purchasing an additional 42,446 shares during the period. Lee Danner & Bass Inc.’s holdings in Schlumberger were worth $5,632,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in SLB. Prospera Private Wealth LLC acquired a new position in Schlumberger during the 3rd quarter valued at about $29,000. YANKCOM Partnership acquired a new stake in shares of Schlumberger in the 4th quarter valued at approximately $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Schlumberger in the 4th quarter valued at approximately $32,000. Golden State Wealth Management LLC acquired a new stake in shares of Schlumberger in the 4th quarter valued at approximately $34,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Schlumberger in the 4th quarter valued at approximately $38,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the sale, the insider now owns 30,829 shares of the company’s stock, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the sale, the vice president now directly owns 11,240 shares of the company’s stock, valued at $496,808. This represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 290,772 shares of company stock valued at $12,546,660. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on SLB shares. Wells Fargo & Company cut their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Piper Sandler started coverage on shares of Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a research report on Tuesday, January 21st. BMO Capital Markets cut their price target on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Finally, Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Price Performance

Shares of SLB opened at $41.29 on Friday. The stock has a market capitalization of $56.14 billion, a P/E ratio of 13.27, a P/E/G ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The company has a 50 day moving average of $41.13 and a 200-day moving average of $41.43. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $9.24 billion. During the same period last year, the business earned $0.86 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.76%. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

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.