D.A. Davidson & CO. Acquires 1,013 Shares of Schlumberger Limited (NYSE:SLB)

D.A. Davidson & CO. raised its holdings in shares of Schlumberger Limited (NYSE:SLB) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 128,066 shares of the oil and gas company’s stock after acquiring an additional 1,013 shares during the period. D.A. Davidson & CO.’s holdings in Schlumberger were worth $4,910,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Prospera Private Wealth LLC bought a new position in Schlumberger during the third quarter valued at approximately $29,000. YANKCOM Partnership bought a new position in Schlumberger during the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC bought a new position in Schlumberger during the fourth quarter valued at approximately $32,000. Ashton Thomas Securities LLC bought a new position in Schlumberger during the third quarter valued at approximately $37,000. Finally, Golden State Wealth Management LLC bought a new position in Schlumberger during the fourth quarter valued at approximately $34,000. 81.99% of the stock is currently owned by institutional investors.

Insider Activity

In related news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger 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 sale, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. This trade represents a 15.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger 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 completion of the sale, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 263,782 shares of company stock worth $11,442,229 over the last three months. 0.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on SLB shares. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Stifel Nicolaus dropped their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Evercore ISI reissued an “in-line” rating and set a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Piper Sandler started coverage on Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Finally, TD Cowen increased their price objective on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $42.19 on Thursday. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $59.10 billion, a P/E ratio of 13.56, a P/E/G ratio of 9.90 and a beta of 1.51. The business has a fifty day simple moving average of $40.14 and a two-hundred day simple moving average of $41.92. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data 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 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 last year, the firm posted $0.86 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share 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 dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.70%. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

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.