International Assets Investment Management LLC Acquires New Stake in Schlumberger Limited (NYSE:SLB)

Posted by on Apr 15th, 2023

International Assets Investment Management LLC acquired a new stake in shares of Schlumberger Limited (NYSE:SLB – Get Rating) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,646 shares of the oil and gas company’s stock, valued at approximately $302,000.

Other hedge funds also recently bought and sold shares of the company. Diversified Trust Co grew its holdings in Schlumberger by 1.8% during the fourth quarter. Diversified Trust Co now owns 10,629 shares of the oil and gas company’s stock valued at $568,000 after purchasing an additional 187 shares during the period. Chesley Taft & Associates LLC grew its holdings in Schlumberger by 0.6% during the fourth quarter. Chesley Taft & Associates LLC now owns 31,780 shares of the oil and gas company’s stock valued at $1,699,000 after purchasing an additional 190 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its holdings in Schlumberger by 3.4% during the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 6,050 shares of the oil and gas company’s stock valued at $217,000 after purchasing an additional 200 shares during the period. Cypress Capital Group grew its holdings in Schlumberger by 0.8% during the third quarter. Cypress Capital Group now owns 24,608 shares of the oil and gas company’s stock valued at $884,000 after purchasing an additional 200 shares during the period. Finally, Blume Capital Management Inc. grew its holdings in Schlumberger by 0.6% during the third quarter. Blume Capital Management Inc. now owns 32,950 shares of the oil and gas company’s stock valued at $1,183,000 after purchasing an additional 200 shares during the period. Hedge funds and other institutional investors own 80.22% of the company’s stock.

Schlumberger Trading Up 1.1 %

Shares of SLB stock opened at $52.48 on Friday. Schlumberger Limited has a 1 year low of $30.65 and a 1 year high of $62.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.25 and a quick ratio of 0.92. The stock’s 50 day simple moving average is $51.50 and its two-hundred day simple moving average is $51.04. The company has a market cap of $74.95 billion, a PE ratio of 21.87, a price-to-earnings-growth ratio of 0.45 and a beta of 1.76.

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

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, April 6th. Shareholders of record on Wednesday, February 8th were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, February 7th. This is an increase from Schlumberger’s previous quarterly dividend of $0.18. This represents a $1.00 dividend on an annualized basis and a yield of 1.91%. Schlumberger’s dividend payout ratio is 41.67%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $44.77, for a total transaction of $279,812.50. Following the sale, the chief financial officer now directly owns 219,765 shares in the company, valued at $9,838,879.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction that occurred on Monday, March 20th. The stock was sold at an average price of $44.77, for a total value of $279,812.50. Following the sale, the chief financial officer now directly owns 219,765 shares in the company, valued at $9,838,879.05. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Gavin Rennick sold 20,000 shares of the stock in a transaction that occurred on Wednesday, March 8th. The stock was sold at an average price of $54.10, for a total value of $1,082,000.00. Following the completion of the sale, the insider now owns 64,393 shares in the company, valued at $3,483,661.30. The disclosure for this sale can be found here. Insiders have sold a total of 265,453 shares of company stock worth $14,955,915 over the last ninety days. Company insiders own 0.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SLB. Barclays boosted their price target on Schlumberger from $62.00 to $74.00 and gave the company an “overweight” rating in a report on Wednesday, January 25th. Wolfe Research lowered Schlumberger from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 12th. HSBC upped their price objective on Schlumberger from $56.80 to $75.00 and gave the stock a “buy” rating in a research note on Monday, January 30th. StockNews.com assumed coverage on Schlumberger in a research note on Thursday, March 16th. They issued a “hold” rating for the company. Finally, Griffin Securities reaffirmed a “buy” rating on shares of Schlumberger in a research note on Monday, January 16th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus price target of $64.07.

Schlumberger Company Profile

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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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