Schlumberger Limited (NYSE:SLB) Shares Acquired by Sigma Planning Corp

Posted by on Apr 5th, 2023

Sigma Planning Corp grew its holdings in Schlumberger Limited (NYSE:SLB – Get Rating) by 59.3% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 32,351 shares of the oil and gas company’s stock after buying an additional 12,046 shares during the period. Sigma Planning Corp’s holdings in Schlumberger were worth $1,730,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Aaron Wealth Advisors LLC raised its position in shares of Schlumberger by 0.7% in the fourth quarter. Aaron Wealth Advisors LLC now owns 42,479 shares of the oil and gas company’s stock valued at $2,271,000 after buying an additional 294 shares during the last quarter. LCM Capital Management Inc acquired a new stake in shares of Schlumberger in the fourth quarter valued at about $214,000. Oak Harvest Investment Services grew its holdings in shares of Schlumberger by 49.9% in the fourth quarter. Oak Harvest Investment Services now owns 15,640 shares of the oil and gas company’s stock valued at $836,000 after purchasing an additional 5,205 shares during the period. Forum Financial Management LP grew its holdings in shares of Schlumberger by 2.2% in the fourth quarter. Forum Financial Management LP now owns 19,353 shares of the oil and gas company’s stock valued at $1,035,000 after purchasing an additional 425 shares during the period. Finally, Louisiana State Employees Retirement System grew its holdings in shares of Schlumberger by 1.2% in the fourth quarter. Louisiana State Employees Retirement System now owns 91,600 shares of the oil and gas company’s stock valued at $4,897,000 after purchasing an additional 1,100 shares during the period. 80.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. Susquehanna dropped their price objective on shares of Schlumberger from $68.00 to $65.00 in a report on Monday. StockNews.com assumed coverage on shares of Schlumberger in a report on Thursday, March 16th. They issued a “hold” rating for the company. Citigroup upped their price objective on shares of Schlumberger from $62.00 to $67.00 and gave the company a “buy” rating in a report on Tuesday, January 24th. Wolfe Research lowered shares of Schlumberger from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 12th. Finally, HSBC increased their target price on shares of Schlumberger from $56.80 to $75.00 and gave the stock a “buy” rating in a research note on Monday, January 30th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $63.13.

Insider Activity

In other news, VP Kevin Fyfe sold 36,850 shares of the firm’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $57.50, for a total value of $2,118,875.00. Following the completion of the transaction, the vice president now owns 32,105 shares of the company’s stock, valued at $1,846,037.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Kevin Fyfe sold 36,850 shares of the firm’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $57.50, for a total value of $2,118,875.00. Following the sale, the vice president now owns 32,105 shares of the company’s stock, valued at $1,846,037.50. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Howard Guild sold 33,063 shares of the firm’s stock in a transaction that occurred on Monday, January 23rd. The shares were sold at an average price of $56.99, for a total transaction of $1,884,260.37. Following the completion of the sale, the chief accounting officer now directly owns 35,994 shares in the company, valued at approximately $2,051,298.06. The disclosure for this sale can be found here. Over the last quarter, insiders sold 265,453 shares of company stock valued at $14,955,915. 0.23% of the stock is currently owned by company insiders.

Schlumberger Trading Down 3.6 %

NYSE SLB opened at $50.46 on Wednesday. The firm has a 50 day simple moving average of $52.24 and a 200-day simple moving average of $50.46. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.92 and a current ratio of 1.25. Schlumberger Limited has a one year low of $30.65 and a one year high of $62.78. The firm has a market cap of $72.07 billion, a price-to-earnings ratio of 21.03, a PEG ratio of 0.43 and a beta of 1.76.

Schlumberger (NYSE:SLB – Get Rating) last posted its quarterly earnings data on Friday, January 20th. The oil and gas company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. Schlumberger had a net margin of 12.25% and a return on equity of 18.51%. The business had revenue of $7.88 billion during the quarter, compared to analyst estimates of $7.80 billion. During the same quarter last year, the firm posted $0.41 earnings per share. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. Equities research analysts anticipate that Schlumberger Limited will post 3.02 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Wednesday, February 8th will be paid a $0.25 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.18. The ex-dividend date is Tuesday, February 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.98%. Schlumberger’s dividend payout ratio (DPR) is presently 41.67%.

About Schlumberger

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Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s digital solutions and data products with its Asset Performance Solutions (APS).

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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