Aspen Wealth Strategies LLC Acquires 2,742 Shares of Schlumberger Limited (NYSE:SLB)

Aspen Wealth Strategies LLC raised its holdings in shares of Schlumberger Limited (NYSE:SLB) by 19.4% in the fourth quarter, Holdings Channel.com reports. The firm owned 16,881 shares of the oil and gas company’s stock after purchasing an additional 2,742 shares during the period. Aspen Wealth Strategies LLC’s holdings in Schlumberger were worth $647,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SLB. Oppenheimer Asset Management Inc. increased its stake in shares of Schlumberger by 11.1% during the third quarter. Oppenheimer Asset Management Inc. now owns 6,816 shares of the oil and gas company’s stock valued at $286,000 after purchasing an additional 683 shares in the last quarter. OneDigital Investment Advisors LLC increased its stake in shares of Schlumberger by 0.7% during the third quarter. OneDigital Investment Advisors LLC now owns 40,715 shares of the oil and gas company’s stock valued at $1,708,000 after purchasing an additional 284 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of Schlumberger by 2.1% during the third quarter. Thrivent Financial for Lutherans now owns 225,906 shares of the oil and gas company’s stock valued at $9,476,000 after purchasing an additional 4,665 shares in the last quarter. Swiss National Bank increased its stake in shares of Schlumberger by 0.7% during the third quarter. Swiss National Bank now owns 4,242,627 shares of the oil and gas company’s stock valued at $177,978,000 after purchasing an additional 29,200 shares in the last quarter. Finally, Islay Capital Management LLC increased its position in shares of Schlumberger by 4,952.4% during the third quarter. Islay Capital Management LLC now owns 26,525 shares of the oil and gas company’s stock valued at $1,113,000 after acquiring an additional 26,000 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

NYSE SLB opened at $41.42 on Tuesday. The business’s fifty day moving average is $41.00 and its 200 day moving average is $41.46. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The company has a market capitalization of $56.32 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.86 earnings per share. Sell-side analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.75%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is currently 36.66%.

Insider Transactions at Schlumberger

In other news, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the transaction, the insider now owns 30,829 shares of the company’s stock, valued at $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 value of $1,098,500.00. Following the sale, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 290,772 shares of company stock valued at $12,546,660 over the last three months. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on SLB shares. Stifel Nicolaus lowered their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Piper Sandler began coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Finally, Wells Fargo & Company lowered their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger 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.