Sei Investments Co. Has $22.64 Million Holdings in Schlumberger Limited (NYSE:SLB)

Sei Investments Co. grew its position in shares of Schlumberger Limited (NYSE:SLB) by 16.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 590,424 shares of the oil and gas company’s stock after buying an additional 83,658 shares during the quarter. Sei Investments Co.’s holdings in Schlumberger were worth $22,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in SLB. Penserra Capital Management LLC increased its stake in shares of Schlumberger by 9,041.9% during the 3rd quarter. Penserra Capital Management LLC now owns 10,696 shares of the oil and gas company’s stock worth $448,000 after purchasing an additional 10,579 shares during the last quarter. Fisher Asset Management LLC increased its position in Schlumberger by 5.5% during the third quarter. Fisher Asset Management LLC now owns 1,159,818 shares of the oil and gas company’s stock worth $48,654,000 after buying an additional 60,070 shares during the last quarter. Brown Brothers Harriman & Co. raised its holdings in Schlumberger by 2.8% during the third quarter. Brown Brothers Harriman & Co. now owns 18,501 shares of the oil and gas company’s stock valued at $776,000 after buying an additional 511 shares in the last quarter. Private Trust Co. NA lifted its position in shares of Schlumberger by 23.8% in the third quarter. Private Trust Co. NA now owns 2,281 shares of the oil and gas company’s stock worth $96,000 after buying an additional 439 shares during the last quarter. Finally, Bank of Montreal Can boosted its stake in shares of Schlumberger by 0.9% during the 3rd quarter. Bank of Montreal Can now owns 1,886,082 shares of the oil and gas company’s stock worth $79,762,000 after acquiring an additional 16,371 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $42.39 on Thursday. The firm has a market cap of $57.64 billion, a P/E ratio of 13.63, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The firm’s 50-day simple moving average is $41.30 and its 200-day simple moving average is $41.43. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. 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 released its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. 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 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, research analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.69%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio is currently 36.66%.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SLB. TD Cowen raised their price objective on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. 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 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Citigroup boosted their target price on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a research report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Insider Buying and Selling at Schlumberger

In other news, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares of the company’s stock, valued at approximately $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the transaction, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. 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 currently owned by company insiders.

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.