Harvey Investment Co. LLC Sells 2,089 Shares of Schlumberger Limited (NYSE:SLB)

Harvey Investment Co. LLC decreased its position in Schlumberger Limited (NYSE:SLB) by 13.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,708 shares of the oil and gas company’s stock after selling 2,089 shares during the period. Harvey Investment Co. LLC’s holdings in Schlumberger were worth $526,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC boosted its holdings in Schlumberger by 393.5% during 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 last quarter. Prospera Private Wealth LLC bought a new position in Schlumberger during the 3rd quarter worth approximately $29,000. YANKCOM Partnership acquired a new position in Schlumberger during the fourth quarter valued at approximately $31,000. Golden State Wealth Management LLC bought a new stake in Schlumberger in the fourth quarter valued at approximately $34,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Schlumberger during the third quarter worth $37,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLB has been the subject of several recent analyst reports. Evercore ISI restated an “in-line” rating and issued a $44.00 price target (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. TD Cowen increased their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Bank of America cut their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Piper Sandler started coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Finally, Susquehanna reduced their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Stock Performance

Shares of NYSE SLB opened at $40.07 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm has a market cap of $56.13 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 9.55 and a beta of 1.51. The stock’s fifty day moving average price is $40.25 and its two-hundred day moving average price is $42.35. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69.

Schlumberger (NYSE:SLB) last released 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 net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. During the same period in the prior year, the company posted $0.86 earnings per share. Schlumberger’s revenue was up 3.3% compared to the same quarter last year. On average, equities analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.85%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio is presently 35.37%.

Insider Buying and Selling

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the sale, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction 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 $8,140,160.34. This represents a 40.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,782 shares of company stock valued at $11,442,229 over the last quarter. 0.26% of the stock is owned by company insiders.

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.