Islay Capital Management LLC Acquires 2,188 Shares of Schlumberger Limited (NYSE:SLB)

Islay Capital Management LLC increased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 8.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 28,713 shares of the oil and gas company’s stock after buying an additional 2,188 shares during the quarter. Islay Capital Management LLC’s holdings in Schlumberger were worth $1,101,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Smith Moore & CO. boosted its stake in shares of Schlumberger by 11.9% in the 4th quarter. Smith Moore & CO. now owns 20,482 shares of the oil and gas company’s stock valued at $785,000 after purchasing an additional 2,182 shares in the last quarter. World Investment Advisors lifted its stake in Schlumberger by 12.2% in the 4th quarter. World Investment Advisors now owns 5,582 shares of the oil and gas company’s stock valued at $215,000 after purchasing an additional 609 shares during the last quarter. Westpac Banking Corp boosted its position in Schlumberger by 11.1% in the fourth quarter. Westpac Banking Corp now owns 19,758 shares of the oil and gas company’s stock valued at $758,000 after buying an additional 1,973 shares in the last quarter. SevenBridge Financial Group LLC increased its holdings in shares of Schlumberger by 4.9% during the fourth quarter. SevenBridge Financial Group LLC now owns 7,519 shares of the oil and gas company’s stock worth $314,000 after buying an additional 350 shares in the last quarter. Finally, Groupama Asset Managment bought a new position in shares of Schlumberger in the 4th quarter valued at $25,152,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 123,097 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the sale, the executive vice president now owns 184,626 shares in the company, valued at $8,140,160.34. This represents a 40.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the transaction, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 315,905 shares of company stock valued at $13,609,283. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SLB shares. Barclays lowered their target price on Schlumberger from $54.00 to $53.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Piper Sandler initiated coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Citigroup boosted their target price on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised their price target on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Finally, Jefferies Financial Group decreased their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, March 27th. Six research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $54.79.

Schlumberger Stock Performance

Shares of SLB opened at $34.77 on Friday. Schlumberger Limited has a one year low of $34.04 and a one year high of $55.65. The company has a market cap of $47.28 billion, a PE ratio of 11.18, a P/E/G ratio of 10.10 and a beta of 1.11. The stock has a 50-day moving average of $41.02 and a 200-day moving average of $41.45. 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 released its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 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 firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th were given a dividend of $0.285 per share. The ex-dividend date was Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 3.28%. Schlumberger’s payout ratio 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.