Bard Financial Services Inc. boosted its stake in shares of Schlumberger Limited (NYSE:SLB – Free Report) by 38.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,525 shares of the oil and gas company’s stock after buying an additional 2,075 shares during the period. Bard Financial Services Inc.’s holdings in Schlumberger were worth $289,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. ORG Partners LLC boosted its stake 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 in the last quarter. Prospera Private Wealth LLC purchased a new stake in shares of Schlumberger during the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC bought a new stake in shares of Schlumberger during the third quarter valued at approximately $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 acquiring an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP bought a new position in Schlumberger in the 3rd quarter valued at approximately $47,000. 81.99% of the stock is owned by institutional investors.
Schlumberger Price Performance
SLB traded up $0.38 during trading hours on Monday, hitting $38.97. The company’s stock had a trading volume of 4,547,011 shares, compared to its average volume of 8,731,761. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The business’s 50-day moving average price is $41.12 and its 200-day moving average price is $43.32. The stock has a market cap of $55.03 billion, a price-to-earnings ratio of 12.53, a P/E/G ratio of 1.42 and a beta of 1.52.
Schlumberger Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.
Analyst Ratings Changes
A number of analysts have commented on SLB shares. TD Cowen reduced their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. 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 on the stock. BMO Capital Markets reduced their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a report on Thursday, October 3rd. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $58.25.
View Our Latest Analysis on Schlumberger
Insiders Place Their Bets
In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.26% of the company’s stock.
About Schlumberger
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.
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