Ieq Capital LLC Acquires 45,758 Shares of Schlumberger Limited (NYSE:SLB)

Ieq Capital LLC boosted its holdings in Schlumberger Limited (NYSE:SLB) by 71.1% in the fourth quarter, HoldingsChannel reports. The firm owned 110,117 shares of the oil and gas company’s stock after purchasing an additional 45,758 shares during the period. Ieq Capital LLC’s holdings in Schlumberger were worth $4,222,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Foundations Investment Advisors LLC lifted its position in shares of Schlumberger by 4.8% during the 3rd quarter. Foundations Investment Advisors LLC now owns 8,874 shares of the oil and gas company’s stock valued at $372,000 after acquiring an additional 409 shares during the period. Private Advisor Group LLC raised its holdings in shares of Schlumberger by 2.3% during the third quarter. Private Advisor Group LLC now owns 144,422 shares of the oil and gas company’s stock valued at $6,059,000 after purchasing an additional 3,227 shares during the period. International Assets Investment Management LLC boosted its position in shares of Schlumberger by 4,640.0% during the 3rd quarter. International Assets Investment Management LLC now owns 202,635 shares of the oil and gas company’s stock worth $8,501,000 after purchasing an additional 198,360 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in shares of Schlumberger by 28.8% in the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 67,792 shares of the oil and gas company’s stock valued at $2,844,000 after buying an additional 15,175 shares during the period. Finally, IFM Investors Pty Ltd increased its position in Schlumberger by 17.7% in the 3rd quarter. IFM Investors Pty Ltd now owns 349,692 shares of the oil and gas company’s stock valued at $14,670,000 after buying an additional 52,668 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Barclays cut their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. JPMorgan Chase & Co. increased their target price on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Royal Bank of Canada reissued an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a research report on Tuesday, January 21st. BMO Capital Markets lowered their price objective on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Finally, Piper Sandler started coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $55.81.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the transaction, the executive vice president now owns 210,502 shares in the company, valued at approximately $8,723,202.88. This represents a 22.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger 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 of the company’s stock, valued at approximately $1,245,799.89. This trade represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock worth $11,442,229 in the last quarter. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $41.73 on Friday. The firm has a market capitalization of $58.45 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 10.00 and a beta of 1.51. 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 fifty day simple moving average is $40.20 and its 200 day simple moving average is $41.91. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share 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 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 firm earned $0.86 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business 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 is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.73%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio is currently 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.