Bridge Creek Capital Management LLC Cuts Stock Position in Schlumberger Limited (NYSE:SLB)

Bridge Creek Capital Management LLC trimmed its position in shares of Schlumberger Limited (NYSE:SLB) by 2.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,450 shares of the oil and gas company’s stock after selling 350 shares during the quarter. Bridge Creek Capital Management LLC’s holdings in Schlumberger were worth $669,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of SLB. ORG Partners LLC raised its position in Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the period. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger in the third 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. lifted its holdings in 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 worth $40,000 after buying an additional 876 shares during the period. Finally, J. Stern & Co. LLP bought a new stake in Schlumberger in the third quarter valued at $47,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB stock traded up $1.14 during mid-day trading on Monday, reaching $39.76. The stock had a trading volume of 8,687,680 shares, compared to its average volume of 10,634,075. The business’s fifty day moving average is $40.97 and its 200-day moving average is $43.05. The firm has a market cap of $56.15 billion, a price-to-earnings ratio of 12.78, a PEG ratio of 1.42 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period last year, the company earned $0.78 earnings per share. Schlumberger’s revenue for the quarter was up 10.2% compared to the same quarter last year. On average, research analysts forecast that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th were given a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Piper Sandler initiated coverage on Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price on the stock. Citigroup decreased their price objective on Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, December 19th. UBS Group dropped their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Wells Fargo & Company cut 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. Finally, Morgan Stanley decreased their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $57.58.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate 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.