Providence Capital Advisors LLC Buys 1,014 Shares of Schlumberger Limited (NYSE:SLB)

Providence Capital Advisors LLC increased its position in shares of Schlumberger Limited (NYSE:SLB) by 0.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 179,707 shares of the oil and gas company’s stock after purchasing an additional 1,014 shares during the quarter. Schlumberger accounts for approximately 1.4% of Providence Capital Advisors LLC’s investment portfolio, making the stock its 23rd largest position. Providence Capital Advisors LLC’s holdings in Schlumberger were worth $6,890,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. YANKCOM Partnership acquired a new position in Schlumberger during the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger during the fourth quarter worth $32,000. Golden State Wealth Management LLC bought a new position in shares of Schlumberger in the 4th quarter valued at $34,000. Hager Investment Management Services LLC acquired a new stake in shares of Schlumberger during the 4th quarter valued at $38,000. Finally, Bogart Wealth LLC increased its holdings in Schlumberger by 468.9% in the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 844 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Schlumberger stock opened at $42.14 on Friday. The firm has a market capitalization of $57.31 billion, a P/E ratio of 13.55, a PEG ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. 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 business has a fifty day moving average price of $41.32 and a 200-day moving average price of $41.43.

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, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. During the same quarter in the previous year, the firm earned $0.86 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that Schlumberger Limited will post 3.38 EPS 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 $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 2.71%. 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 (DPR) is presently 36.66%.

Insider Activity

In other news, insider Bejar Carmen Rando sold 5,524 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gavin Rennick sold 26,990 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the sale, the insider now directly owns 53,584 shares in the company, valued at $2,192,657.28. This represents a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock worth $12,546,660 in the last three months. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

SLB has been the topic of several recent research reports. Piper Sandler assumed coverage on Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price on the stock. Jefferies Financial Group dropped their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Stifel Nicolaus dropped 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 reaffirmed an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $55.69.

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.