Schlumberger Limited (NYSE:SLB) Shares Purchased by Romano Brothers AND Company

Romano Brothers AND Company boosted its position in shares of Schlumberger Limited (NYSE:SLB) by 22.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,750 shares of the oil and gas company’s stock after acquiring an additional 14,025 shares during the period. Romano Brothers AND Company’s holdings in Schlumberger were worth $2,904,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on SLB. Piper Sandler began coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target on the stock. BMO Capital Markets dropped their target price on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday. JPMorgan Chase & Co. reduced their price target on shares of Schlumberger from $55.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, January 2nd. Bank of America dropped their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Citigroup reduced their target price on Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $56.03.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Stock Up 6.1 %

Shares of Schlumberger stock opened at $43.58 on Friday. The company has a market cap of $61.54 billion, a P/E ratio of 14.01, a PEG ratio of 1.35 and a beta of 1.52. The firm has a fifty day moving average of $40.86 and a two-hundred day moving average of $42.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. 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 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. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same period in the prior year, the company posted $0.86 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts forecast that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.62%. 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.