Horizon Investments LLC Buys 671 Shares of Schlumberger Limited (NYSE:SLB)

Horizon Investments LLC lifted its stake in Schlumberger Limited (NYSE:SLB) by 3.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,303 shares of the oil and gas company’s stock after purchasing an additional 671 shares during the period. Horizon Investments LLC’s holdings in Schlumberger were worth $849,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky grew its holdings in shares of Schlumberger by 25.9% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after purchasing an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after acquiring an additional 16,350 shares during the period. Bryn Mawr Capital Management LLC lifted its stake in Schlumberger by 502.6% in the fourth quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company’s stock worth $7,592,000 after acquiring an additional 165,162 shares during the period. Narwhal Capital Management lifted its stake in Schlumberger by 225.5% in the fourth quarter. Narwhal Capital Management now owns 74,645 shares of the oil and gas company’s stock worth $2,862,000 after acquiring an additional 51,715 shares during the period. Finally, Czech National Bank lifted its stake in Schlumberger by 5.8% in the fourth quarter. Czech National Bank now owns 306,183 shares of the oil and gas company’s stock worth $11,739,000 after acquiring an additional 16,914 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the sale, the executive vice president now directly owns 184,626 shares in the company, valued at $8,140,160.34. The trade was a 40.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 290,772 shares of company stock worth $12,546,660. 0.26% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of research reports. TD Cowen upped their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. BMO Capital Markets lowered their price objective on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Evercore ISI reaffirmed an “in-line” rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Stifel Nicolaus decreased their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Finally, Piper Sandler started coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target for the company. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $41.00 on Thursday. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The company’s 50 day moving average is $41.08 and its 200 day moving average is $41.43. 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 company has a market cap of $55.75 billion, a PE ratio of 13.18, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47.

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 the consensus estimate 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 quarter in the prior year, the company earned $0.86 EPS. Schlumberger’s quarterly revenue was up 3.3% on a year-over-year basis. On average, sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 2.78%. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is 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.