Narwhal Capital Management Buys 51,715 Shares of Schlumberger Limited (NYSE:SLB)

Narwhal Capital Management grew its position in Schlumberger Limited (NYSE:SLB) by 225.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 74,645 shares of the oil and gas company’s stock after purchasing an additional 51,715 shares during the quarter. Narwhal Capital Management’s holdings in Schlumberger were worth $2,862,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of SLB. ORG Partners LLC increased its position in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the period. Prospera Private Wealth LLC bought a new position in shares of Schlumberger during the 3rd quarter worth about $29,000. Ashton Thomas Securities LLC bought a new position in shares of Schlumberger during the 3rd quarter worth about $37,000. DiNuzzo Private Wealth Inc. raised its position in shares of Schlumberger by 1,068.3% during the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after buying an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP bought a new stake in shares of Schlumberger in the third quarter valued at about $47,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. TD Cowen boosted their price objective on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Jefferies Financial Group lowered their price target on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. JPMorgan Chase & Co. raised their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. 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. Finally, Piper Sandler started coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Insider Buying and Selling

In other news, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the sale, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the transaction, the director now directly owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 198,258 shares of company stock valued at $8,732,604. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Performance

Shares of NYSE:SLB opened at $42.30 on Monday. 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 Limited has a 1-year low of $36.52 and a 1-year high of $55.69. The stock has a market capitalization of $59.73 billion, a P/E ratio of 13.60, a P/E/G ratio of 9.98 and a beta of 1.52. The business has a 50-day moving average price of $40.74 and a two-hundred day moving average price of $42.74.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9,241,140 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS. Equities analysts predict that Schlumberger Limited will post 3.34 earnings per share for the current year.

Schlumberger Increases Dividend

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

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.