Schlumberger Limited (NYSE:SLB) is Black Cypress Capital Management LLC’s 6th Largest Position

Black Cypress Capital Management LLC lifted its position in Schlumberger Limited (NYSE:SLB) by 14.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 177,215 shares of the oil and gas company’s stock after acquiring an additional 22,688 shares during the period. Schlumberger accounts for about 5.9% of Black Cypress Capital Management LLC’s investment portfolio, making the stock its 6th largest holding. Black Cypress Capital Management LLC’s holdings in Schlumberger were worth $6,794,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Schlumberger by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 29,985,360 shares of the oil and gas company’s stock valued at $1,146,195,000 after purchasing an additional 1,377,134 shares in the last quarter. First Eagle Investment Management LLC raised its stake in Schlumberger by 1.2% during the fourth quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company’s stock valued at $1,067,254,000 after buying an additional 343,261 shares during the last quarter. Norges Bank purchased a new position in Schlumberger during the fourth quarter valued at $735,398,000. Boston Partners boosted its holdings in Schlumberger by 9.9% in the fourth quarter. Boston Partners now owns 15,529,159 shares of the oil and gas company’s stock worth $597,356,000 after acquiring an additional 1,405,186 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in shares of Schlumberger by 12.4% during the fourth quarter. Franklin Resources Inc. now owns 15,396,967 shares of the oil and gas company’s stock valued at $590,320,000 after acquiring an additional 1,700,203 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

NYSE SLB opened at $33.94 on Friday. The business’s fifty day moving average is $39.99 and its 200 day moving average is $41.03. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $54.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The company has a market capitalization of $46.15 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data 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. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. During the same period in the previous year, the firm earned $0.86 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th were paid a dividend of $0.285 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.36%. Schlumberger’s payout ratio is 36.66%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Evercore ISI reiterated an “in-line” rating and issued a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Piper Sandler began coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. BMO Capital Markets reduced their price target on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, JPMorgan Chase & Co. lifted their target price on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $54.68.

Insider Buying and Selling

In related news, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the director now directly owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. This trade represents a 33.51 % 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 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 completion of the sale, the insider now owns 30,829 shares in the company, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 315,905 shares of company stock valued at $13,609,283. 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.