Baxter Bros Inc. Grows Stake in Schlumberger Limited (NYSE:SLB)

Baxter Bros Inc. lifted its stake in Schlumberger Limited (NYSE:SLB) by 11.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,280 shares of the oil and gas company’s stock after purchasing an additional 2,210 shares during the quarter. Baxter Bros Inc.’s holdings in Schlumberger were worth $816,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. YANKCOM Partnership purchased a new position in Schlumberger in the fourth quarter worth about $31,000. Stonebridge Financial Group LLC bought a new position in shares of Schlumberger in the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC purchased a new position in shares of Schlumberger during the 4th quarter worth $34,000. Hager Investment Management Services LLC bought a new stake in Schlumberger during the fourth quarter valued at about $38,000. Finally, Bogart Wealth LLC lifted its position in shares of Schlumberger by 468.9% during the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 844 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

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

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $41.73 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The firm’s fifty day simple moving average is $41.22 and its 200-day simple moving average is $41.41. The stock has a market capitalization of $56.74 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 EPS. As a group, equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a $0.285 dividend. 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. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is currently 36.66%.

Analysts Set New Price Targets

SLB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Wells Fargo & Company decreased their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. BMO Capital Markets dropped their target price on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Piper Sandler began coverage on Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Finally, Barclays dropped their price objective on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

About Schlumberger

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.