Schlumberger Limited (NYSE:SLB) Holdings Raised by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 65,281 shares of the oil and gas company’s stock after buying an additional 3,623 shares during the period. Hanson & Doremus Investment Management’s holdings in Schlumberger were worth $2,503,000 as of its most recent SEC filing.

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

Schlumberger Trading Down 1.1 %

NYSE:SLB opened at $40.87 on Thursday. The firm has a market capitalization of $57.71 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 9.98 and a beta of 1.52. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69. The business’s 50-day moving average price is $40.69 and its two-hundred day moving average price is $42.66. 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 (NYSE:SLB) last released its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping 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 $9.24 billion. During the same quarter last year, the firm earned $0.86 EPS. Schlumberger’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities analysts expect that Schlumberger Limited will post 3.34 earnings per share for the current year.

Schlumberger Increases Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.79%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is currently 35.37%.

Analysts Set New Price Targets

A number of research analysts have recently commented on SLB shares. Piper Sandler began coverage on Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target for the company. Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Barclays dropped their price objective on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, BMO Capital Markets cut their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Insider Buying and Selling

In other news, VP Ugo Prechner sold 7,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. This represents a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the sale, the executive vice president now directly owns 210,502 shares in the company, valued at $8,723,202.88. This represents a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 258,258 shares of company stock valued at $11,219,004. 0.26% of the stock is owned by company insiders.

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.