Cadence Bank Increases Stock Position in Schlumberger Limited (NYSE:SLB)

Cadence Bank boosted its holdings in Schlumberger Limited (NYSE:SLB) by 17.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,823 shares of the oil and gas company’s stock after buying an additional 26,272 shares during the period. Cadence Bank’s holdings in Schlumberger were worth $6,626,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Y Intercept Hong Kong Ltd purchased a new position in Schlumberger during the 3rd quarter valued at about $232,000. Bard Financial Services Inc. bought a new position in shares of Schlumberger in the third quarter valued at approximately $229,000. SkyView Investment Advisors LLC boosted its position in shares of Schlumberger by 5.8% in the third quarter. SkyView Investment Advisors LLC now owns 16,965 shares of the oil and gas company’s stock valued at $712,000 after acquiring an additional 936 shares during the period. Sfmg LLC grew its stake in Schlumberger by 4.1% during the third quarter. Sfmg LLC now owns 88,398 shares of the oil and gas company’s stock valued at $3,708,000 after acquiring an additional 3,478 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB increased its holdings in Schlumberger by 27.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after acquiring an additional 16,350 shares during the period. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 2.8 %

SLB opened at $35.09 on Friday. Schlumberger Limited has a 12 month low of $31.11 and a 12 month high of $51.77. 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 business’s 50-day moving average price is $39.48 and its 200-day moving average price is $40.83. The company has a market cap of $47.72 billion, a P/E ratio of 11.28, a P/E/G ratio of 10.10 and a beta of 1.11.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business 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 quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 EPS. On average, equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 210,502 shares in the company, valued at approximately $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 SEC, which is accessible through this hyperlink. Also, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the sale, the insider now directly owns 30,829 shares in the company, valued at $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 90 days, insiders have sold 315,905 shares of company stock worth $13,609,283. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of recent analyst reports. Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. BMO Capital Markets decreased their target price on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. TD Cowen lifted their price target on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Royal Bank of Canada restated an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. Finally, Piper Sandler initiated coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $54.15.

Schlumberger 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.