Reliant Investment Management LLC Buys 810 Shares of Schlumberger Limited (NYSE:SLB)

Reliant Investment Management LLC raised its stake in shares of Schlumberger Limited (NYSE:SLB) by 0.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 127,143 shares of the oil and gas company’s stock after acquiring an additional 810 shares during the quarter. Schlumberger makes up 2.2% of Reliant Investment Management LLC’s portfolio, making the stock its 26th largest holding. Reliant Investment Management LLC’s holdings in Schlumberger were worth $4,875,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Schlumberger by 25.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock valued at $31,961,000 after acquiring an additional 156,698 shares during the period. Wilmington Savings Fund Society FSB increased its stake in shares of Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after buying an additional 16,350 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Schlumberger by 8.7% in the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after buying an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC increased its stake in shares of Schlumberger by 269.1% in the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after buying an additional 14,376 shares in the last quarter. Finally, Public Sector Pension Investment Board increased its stake in shares of Schlumberger by 0.6% in the second quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after buying an additional 11,813 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of research reports. Jefferies Financial Group lowered their target price on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Citigroup lowered their target price on Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Piper Sandler started coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. Wells Fargo & Company lowered their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Finally, BMO Capital Markets lowered their price objective on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $56.03.

Schlumberger Trading Up 6.1 %

NYSE:SLB opened at $43.58 on Tuesday. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The stock has a market capitalization of $61.54 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 3.61 and a beta of 1.52. The business’s 50-day simple moving average is $40.86 and its 200-day simple moving average is $42.84.

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, 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 for the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same quarter in the previous year, the business posted $0.86 EPS. Schlumberger’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts expect that Schlumberger Limited will post 3.29 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed 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. This represents a $1.14 annualized dividend and a dividend yield of 2.62%. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is 35.37%.

Insider Activity

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is currently owned by company insiders.

Schlumberger Company 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.