Sage Mountain Advisors LLC Raises Position in Schlumberger Limited (NYSE:SLB)

Sage Mountain Advisors LLC boosted its stake in Schlumberger Limited (NYSE:SLB) by 18.6% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 8,600 shares of the oil and gas company’s stock after buying an additional 1,347 shares during the quarter. Sage Mountain Advisors LLC’s holdings in Schlumberger were worth $330,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Morton Community Bank lifted its holdings in Schlumberger by 1.1% in the fourth quarter. Morton Community Bank now owns 58,690 shares of the oil and gas company’s stock worth $2,250,000 after buying an additional 660 shares during the period. Independent Advisor Alliance increased its stake in shares of Schlumberger by 62.0% during the fourth quarter. Independent Advisor Alliance now owns 13,468 shares of the oil and gas company’s stock valued at $516,000 after purchasing an additional 5,156 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Schlumberger by 2.7% during the fourth quarter. Daiwa Securities Group Inc. now owns 185,853 shares of the oil and gas company’s stock valued at $7,126,000 after purchasing an additional 4,952 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Schlumberger by 6.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 660,451 shares of the oil and gas company’s stock valued at $25,322,000 after purchasing an additional 37,447 shares in the last quarter. Finally, Sound View Wealth Advisors Group LLC increased its stake in shares of Schlumberger by 5.4% during the fourth quarter. Sound View Wealth Advisors Group LLC now owns 11,211 shares of the oil and gas company’s stock valued at $430,000 after purchasing an additional 573 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have weighed in on SLB. BMO Capital Markets decreased their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Piper Sandler began coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price for the company. Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a research report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Price Performance

Shares of SLB opened at $40.06 on Thursday. The firm has a market cap of $54.48 billion, a PE ratio of 12.88, a P/E/G ratio of 10.10 and a beta of 1.47. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The firm has a fifty day simple moving average of $40.87 and a two-hundred day simple moving average of $41.56. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. On average, equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders 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 2.85%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio is 36.66%.

Insider Transactions at Schlumberger

In other news, insider Dianne B. Ralston sold 43,161 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was 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 directly owns 235,024 shares in the company, valued at $10,331,655.04. This represents a 15.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the completion of the transaction, the executive vice president now directly owns 184,626 shares of the company’s stock, valued at $8,140,160.34. This represents a 40.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock worth $12,546,660 in the last three months. Corporate insiders own 0.26% of the company’s stock.

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.