InTrack Investment Management Inc Cuts Stock Holdings in Schlumberger Limited (NYSE:SLB)

InTrack Investment Management Inc lowered its position in Schlumberger Limited (NYSE:SLB) by 8.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,097 shares of the oil and gas company’s stock after selling 894 shares during the period. InTrack Investment Management Inc’s holdings in Schlumberger were worth $363,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. ORG Partners LLC increased its stake in Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares during the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Schlumberger during the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new stake in Schlumberger during the third quarter worth $37,000. DiNuzzo Private Wealth Inc. boosted its position in Schlumberger by 1,068.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after purchasing an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP bought a new position in Schlumberger in the 3rd quarter valued at $47,000. 81.99% of the stock is owned by institutional investors.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Up 6.1 %

Shares of NYSE:SLB opened at $43.58 on Friday. The firm has a fifty day moving average price of $40.85 and a two-hundred day moving average price of $42.92. The company has a market cap of $61.54 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.35 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9,241,140 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $0.86 earnings per share. Analysts anticipate that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 2.62%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is 35.37%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on SLB shares. Evercore ISI reissued an “in-line” rating and issued a $44.00 price target (down from $62.00) on shares of Schlumberger in a report on Wednesday. BMO Capital Markets dropped their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday. Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Citigroup dropped their price objective on Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, Piper Sandler initiated coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $56.03.

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.