7,142 Shares in Schlumberger Limited (NYSE:SLB) Acquired by Tyche Wealth Partners LLC

Tyche Wealth Partners LLC purchased a new position in Schlumberger Limited (NYSE:SLB) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 7,142 shares of the oil and gas company’s stock, valued at approximately $274,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. ORG Partners LLC raised its holdings in Schlumberger by 393.5% in 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 period. Prospera Private Wealth LLC bought a new position in Schlumberger in the 3rd quarter worth $29,000. Ashton Thomas Securities LLC bought a new position in Schlumberger in the 3rd quarter worth $37,000. DiNuzzo Private Wealth Inc. raised its holdings in Schlumberger by 1,068.3% in the 3rd 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 period. Finally, Hager Investment Management Services LLC bought a new position in Schlumberger in the 4th quarter worth $38,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Down 1.8 %

Shares of NYSE:SLB opened at $40.07 on Friday. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The business has a 50 day simple moving average of $40.32 and a two-hundred day simple moving average of $42.36. The firm has a market capitalization of $56.13 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 9.55 and a beta of 1.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

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, 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 during the quarter, compared to analyst estimates of $9.24 billion. During the same quarter in the previous year, the business earned $0.86 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 2.85%. The ex-dividend date of this dividend is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is 36.66%.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred 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 owns 210,502 shares of the company’s stock, valued at approximately $8,723,202.88. The trade was a 22.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the sale, the insider now directly owns 30,829 shares of the company’s stock, valued at $1,245,799.89. This represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,782 shares of company stock worth $11,442,229 over the last 90 days. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on SLB shares. Susquehanna decreased their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Bank of America decreased their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. JPMorgan Chase & Co. raised their price objective on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Piper Sandler began coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Six 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. Based on data from MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $55.81.

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.