Van Hulzen Asset Management LLC Invests $12.90 Million in Schlumberger Limited (NYSE:SLB)

Van Hulzen Asset Management LLC purchased a new stake in Schlumberger Limited (NYSE:SLB) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 336,426 shares of the oil and gas company’s stock, valued at approximately $12,898,000. Schlumberger makes up about 0.9% of Van Hulzen Asset Management LLC’s portfolio, making the stock its 28th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in shares of Schlumberger by 8.7% during 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. Empower Advisory Group LLC boosted its position in Schlumberger by 4.4% during the 3rd quarter. Empower Advisory Group LLC now owns 7,835 shares of the oil and gas company’s stock worth $329,000 after acquiring an additional 328 shares during the period. Oppenheimer Asset Management Inc. grew its stake in Schlumberger by 11.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 6,816 shares of the oil and gas company’s stock valued at $286,000 after acquiring an additional 683 shares in the last quarter. Huntington National Bank increased its holdings in shares of Schlumberger by 4.4% in the 3rd quarter. Huntington National Bank now owns 39,147 shares of the oil and gas company’s stock valued at $1,642,000 after purchasing an additional 1,665 shares during the period. Finally, OneDigital Investment Advisors LLC lifted its position in shares of Schlumberger by 0.7% in the third quarter. OneDigital Investment Advisors LLC now owns 40,715 shares of the oil and gas company’s stock worth $1,708,000 after purchasing an additional 284 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SLB. Barclays dropped their price objective on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Evercore ISI reiterated an “in-line” rating and set a $44.00 price objective (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Wells Fargo & Company lowered their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. TD Cowen upped their target price on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Finally, Piper Sandler started coverage on Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target for the company. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Insider Buying and Selling

In other news, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the sale, the insider now owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. This trade represents a 33.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the transaction, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock valued at $12,546,660 over the last three months. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Performance

Shares of NYSE SLB opened at $41.10 on Friday. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The company has a market cap of $55.89 billion, a P/E ratio of 13.21, a P/E/G ratio of 10.10 and a beta of 1.47. The business’s 50 day moving average is $40.95 and its two-hundred day moving average is $41.49.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 in the previous year, the firm posted $0.86 earnings per share. Schlumberger’s revenue was up 3.3% compared to the same quarter last year. On average, equities analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business also recently announced 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. This represents a $1.14 annualized dividend and a dividend yield of 2.77%. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

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.