63,847 Shares in Schlumberger Limited (NYSE:SLB) Purchased by Sovran Advisors LLC

Sovran Advisors LLC bought a new stake in Schlumberger Limited (NYSE:SLB) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 63,847 shares of the oil and gas company’s stock, valued at approximately $2,546,000.

Other large investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust boosted its holdings in Schlumberger by 17.4% in the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 224 shares in the last quarter. CX Institutional grew its position in Schlumberger by 2.4% during the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock valued at $398,000 after acquiring an additional 244 shares during the period. GM Advisory Group LLC lifted its holdings in shares of Schlumberger by 3.8% during the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock valued at $281,000 after acquiring an additional 247 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in Schlumberger by 0.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock worth $2,174,000 after acquiring an additional 262 shares during the period. Finally, Cordatus Wealth Management LLC grew its stake in Schlumberger by 2.1% during the 3rd quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock valued at $561,000 after purchasing an additional 281 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Schlumberger

In related news, Director Vijay Kasibhatla sold 25,000 shares of the business’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 sale, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the transaction, the executive vice president now owns 184,626 shares in the company, valued at $8,140,160.34. This represents a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 263,782 shares of company stock valued at $11,442,229. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a research report on Tuesday, January 21st. Piper Sandler began coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price for the company. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. JPMorgan Chase & Co. lifted their price target on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. 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 stock. Based on data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Trading Up 2.6 %

Shares of NYSE:SLB opened at $41.19 on Tuesday. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a market capitalization of $57.71 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 9.49 and a beta of 1.51. The company has a 50-day simple moving average of $40.17 and a 200 day simple moving average of $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.

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

Schlumberger Increases Dividend

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

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.