Schlumberger Limited (NYSE:SLB) Stock Position Raised by New Millennium Group LLC

New Millennium Group LLC increased its position in Schlumberger Limited (NYSE:SLB) by 17.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 11,532 shares of the oil and gas company’s stock after purchasing an additional 1,754 shares during the period. New Millennium Group LLC’s holdings in Schlumberger were worth $442,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SLB. ORG Partners LLC boosted its position in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after buying an additional 484 shares during the period. Prospera Private Wealth LLC acquired a new stake in Schlumberger during the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new position in Schlumberger during the 3rd quarter valued at about $37,000. DiNuzzo Private Wealth Inc. increased its holdings in shares of Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 876 shares during the period. Finally, J. Stern & Co. LLP purchased a new stake in shares of Schlumberger in the third quarter worth approximately $47,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Schlumberger

In related news, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the sale, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. This represents a 15.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the transaction, the vice president now owns 11,240 shares of the company’s stock, valued at approximately $496,808. The trade was a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 263,782 shares of company stock worth $11,442,229 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on SLB. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Evercore ISI restated an “in-line” rating and issued a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Piper Sandler initiated coverage on Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target for the company. Finally, BMO Capital Markets reduced their price objective on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Stock Down 2.0 %

NYSE SLB opened at $40.21 on Friday. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69. The company has a market capitalization of $56.32 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 9.70 and a beta of 1.52. The stock’s 50 day moving average is $40.58 and its two-hundred day moving average is $42.63. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results 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 business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same quarter in the previous year, the firm earned $0.86 EPS. Schlumberger’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company 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 dividend of $0.285 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.84%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

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.