Schlumberger Limited (NYSE:SLB) Shares Purchased by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC lifted its position in Schlumberger Limited (NYSE:SLB) by 72.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,273 shares of the oil and gas company’s stock after acquiring an additional 3,887 shares during the period. Frank Rimerman Advisors LLC’s holdings in Schlumberger were worth $356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in SLB. Prospera Private Wealth LLC acquired a new position in shares of Schlumberger in the 3rd quarter valued at $29,000. YANKCOM Partnership acquired a new position in shares of Schlumberger in the 4th quarter valued at $31,000. Stonebridge Financial Group LLC acquired a new stake in Schlumberger during the 4th quarter worth about $32,000. Golden State Wealth Management LLC acquired a new stake in Schlumberger during the 4th quarter worth about $34,000. Finally, Hager Investment Management Services LLC acquired a new stake in Schlumberger during the 4th quarter worth about $38,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SLB has been the topic of several analyst reports. Citigroup increased their price target on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Stifel Nicolaus cut their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. TD Cowen increased their price target on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price target (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Finally, Piper Sandler assumed coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $55.81.

Schlumberger Trading Up 2.9 %

Shares of Schlumberger stock opened at $41.10 on Monday. The firm has a market capitalization of $55.89 billion, a PE ratio of 13.21, 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. The firm’s 50-day moving average price is $40.95 and its 200 day moving average price is $41.48. 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 released its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.86 EPS. On average, sell-side analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.77%. Schlumberger’s dividend payout ratio is presently 36.66%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the sale, the executive vice president now owns 184,626 shares in the company, valued at approximately $8,140,160.34. This represents a 40.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the sale, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. This represents a 38.38 % 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.