Blume Capital Management Inc. Grows Position in Schlumberger Limited (NYSE:SLB)

Blume Capital Management Inc. grew its holdings in Schlumberger Limited (NYSE:SLB) by 27.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,495 shares of the oil and gas company’s stock after acquiring an additional 12,722 shares during the period. Blume Capital Management Inc.’s holdings in Schlumberger were worth $2,281,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Prospera Private Wealth LLC purchased a new position in shares of Schlumberger in the third quarter valued at about $29,000. YANKCOM Partnership bought a new stake in shares of Schlumberger in the fourth quarter worth about $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Schlumberger in the fourth quarter worth about $32,000. Ashton Thomas Securities LLC bought a new stake in shares of Schlumberger in the third quarter worth about $37,000. Finally, Golden State Wealth Management LLC bought a new stake in shares of Schlumberger in the fourth quarter worth about $34,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on SLB shares. Citigroup boosted their price objective on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Wells Fargo & Company reduced their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Piper Sandler started coverage on Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective on the stock. Stifel Nicolaus reduced 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. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Stock Down 0.3 %

Schlumberger stock opened at $39.92 on Friday. The business has a fifty day moving average of $40.90 and a two-hundred day moving average of $41.55. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The firm has a market cap of $54.28 billion, a P/E ratio of 12.84, a P/E/G ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. On average, analysts forecast 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 2.86%. 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 Activity

In other news, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction 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 completion of the sale, the insider now owns 30,829 shares in the company, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Dianne B. Ralston sold 43,161 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the transaction, the insider now owns 235,024 shares of the company’s stock, valued at $10,331,655.04. This trade represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 290,772 shares of company stock worth $12,546,660. Insiders own 0.26% of the company’s stock.

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.