K.J. Harrison & Partners Inc Purchases Shares of 10,000 Schlumberger Limited (NYSE:SLB)

K.J. Harrison & Partners Inc purchased a new position 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 (SEC). The fund purchased 10,000 shares of the oil and gas company’s stock, valued at approximately $384,000.

A number of other large investors have also modified their holdings of SLB. Heritage Investors Management Corp grew its position in shares of Schlumberger by 22.6% during the fourth quarter. Heritage Investors Management Corp now owns 228,612 shares of the oil and gas company’s stock worth $8,765,000 after buying an additional 42,154 shares in the last quarter. National Pension Service grew its holdings in Schlumberger by 16.4% during the 4th quarter. National Pension Service now owns 3,156,820 shares of the oil and gas company’s stock worth $121,032,000 after acquiring an additional 445,438 shares in the last quarter. Lingotto Investment Management LLP grew its holdings in Schlumberger by 5.5% during the 4th quarter. Lingotto Investment Management LLP now owns 3,965,064 shares of the oil and gas company’s stock worth $152,021,000 after acquiring an additional 205,256 shares in the last quarter. Sprott Inc. purchased a new stake in shares of Schlumberger in the 4th quarter valued at approximately $249,000. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Schlumberger by 91.0% in the 4th quarter. Los Angeles Capital Management LLC now owns 586,409 shares of the oil and gas company’s stock valued at $22,483,000 after purchasing an additional 279,369 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB stock opened at $40.86 on Friday. The stock’s 50-day moving average price is $40.41 and its 200 day moving average price is $41.84. 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 stock has a market capitalization of $55.56 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 10.10 and a beta of 1.51. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $9.24 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.79%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is presently 36.66%.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. Stifel Nicolaus lowered their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Piper Sandler began coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price on the stock. Wells Fargo & Company lowered their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Finally, Citigroup increased their price target on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Insider Transactions at Schlumberger

In other news, insider Gavin Rennick sold 26,990 shares of the 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 completion of the transaction, the insider now directly owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. This represents a 33.50 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the sale, the insider now owns 235,024 shares in the company, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 290,772 shares of company stock worth $12,546,660. Company insiders own 0.26% of the company’s stock.

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.