TD Private Client Wealth LLC Raises Position in Schlumberger Limited (NYSE:SLB)

TD Private Client Wealth LLC grew its holdings in shares of Schlumberger Limited (NYSE:SLB) by 1.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,832 shares of the oil and gas company’s stock after buying an additional 322 shares during the quarter. TD Private Client Wealth LLC’s holdings in Schlumberger were worth $1,220,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Lee Danner & Bass Inc. grew its stake in shares of Schlumberger by 40.6% during the fourth quarter. Lee Danner & Bass Inc. now owns 146,902 shares of the oil and gas company’s stock valued at $5,632,000 after buying an additional 42,446 shares during the last quarter. Loudon Investment Management LLC grew its stake in shares of Schlumberger by 749.3% during the fourth quarter. Loudon Investment Management LLC now owns 41,064 shares of the oil and gas company’s stock valued at $1,574,000 after buying an additional 36,229 shares during the last quarter. Palogic Value Management L.P. grew its stake in shares of Schlumberger by 10.3% during the fourth quarter. Palogic Value Management L.P. now owns 33,442 shares of the oil and gas company’s stock valued at $1,282,000 after buying an additional 3,111 shares during the last quarter. Holderness Investments Co. grew its stake in shares of Schlumberger by 4.5% during the fourth quarter. Holderness Investments Co. now owns 13,018 shares of the oil and gas company’s stock valued at $499,000 after buying an additional 556 shares during the last quarter. Finally, iA Global Asset Management Inc. grew its stake in shares of Schlumberger by 45.8% during the fourth quarter. iA Global Asset Management Inc. now owns 67,773 shares of the oil and gas company’s stock valued at $2,598,000 after buying an additional 21,297 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on the company. Stifel Nicolaus dropped their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. TD Cowen increased their price objective on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler assumed coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective on the stock. Six research 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Stock Performance

Shares of SLB opened at $41.09 on Friday. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The stock has a fifty day moving average price of $41.18 and a 200-day moving average price of $41.41. 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 firm has a market cap of $55.87 billion, a PE ratio of 13.21, a P/E/G ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. During the same quarter in the prior year, the business posted $0.86 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is currently 36.66%.

Insider Buying and Selling

In related news, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction on 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 transaction, the insider now owns 30,829 shares in the company, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gavin Rennick sold 26,990 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total value of $1,104,430.80. Following the completion of the transaction, the insider now owns 53,584 shares of the company’s stock, valued at $2,192,657.28. This trade represents a 33.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock worth $12,546,660 in the last 90 days. Insiders own 0.26% of the company’s stock.

Schlumberger Company 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.