Regency Capital Management Inc. DE Takes $1.53 Million Position in Schlumberger Limited (NYSE:SLB)

Regency Capital Management Inc. DE purchased a new position in shares of Schlumberger Limited (NYSE:SLB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 39,967 shares of the oil and gas company’s stock, valued at approximately $1,532,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SLB. State Street Corp increased its position in shares of Schlumberger by 0.6% during the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after purchasing an additional 528,279 shares in the last quarter. Geode Capital Management LLC increased its position in Schlumberger by 0.8% during the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock worth $1,195,290,000 after buying an additional 239,966 shares during the period. Legal & General Group Plc lifted its stake in Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after buying an additional 1,560,684 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Schlumberger by 20.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after acquiring an additional 1,916,851 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Schlumberger by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock valued at $335,214,000 after acquiring an additional 31,718 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on SLB shares. BMO Capital Markets lowered their price objective on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Piper Sandler initiated coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Barclays decreased their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Finally, Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. 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 stock. Based on data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $55.81.

Insider Activity

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the transaction, the vice president now directly owns 11,240 shares in the company, valued at approximately $496,808. This represents a 38.38 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the sale, the insider now owns 235,024 shares of the company’s stock, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 198,258 shares of company stock worth $8,732,604 over the last three months. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Price Performance

Schlumberger stock opened at $42.30 on Friday. 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’s 50-day simple moving average is $40.74 and its 200 day simple moving average is $42.75. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The firm has a market capitalization of $59.73 billion, a PE ratio of 13.60, a P/E/G ratio of 9.98 and a beta of 1.52.

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 analyst estimates of $9,241,140 billion. During the same period in the prior year, the business earned $0.86 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts predict that Schlumberger Limited will post 3.34 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.70%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is 35.37%.

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.