Hudson Valley Investment Advisors Inc. ADV Has $3.49 Million Stock Position in Schlumberger Limited (NYSE:SLB)

Hudson Valley Investment Advisors Inc. ADV lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 1.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,951 shares of the oil and gas company’s stock after selling 1,780 shares during the quarter. Hudson Valley Investment Advisors Inc. ADV’s holdings in Schlumberger were worth $3,487,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in SLB. 1832 Asset Management L.P. purchased a new position in Schlumberger during the 2nd quarter valued at about $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Schlumberger by 20.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after purchasing an additional 1,916,851 shares in the last quarter. Legal & General Group Plc increased its stake in Schlumberger by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after buying an additional 1,560,684 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Schlumberger by 14.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock valued at $333,445,000 after buying an additional 915,705 shares during the period. Finally, Merewether Investment Management LP purchased a new position in shares of Schlumberger during the 2nd quarter valued at $42,957,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on SLB. TD Cowen lowered their target price on Schlumberger from $65.00 to $53.00 and set a “buy” rating on the stock in a research note on Wednesday. Piper Sandler assumed coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research report on Thursday, October 3rd. UBS Group reduced their target price on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, Barclays cut their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $57.58.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. The trade was a 22.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 1.5 %

SLB opened at $38.77 on Friday. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69. The business has a 50 day moving average of $41.00 and a 200-day moving average of $43.16. The stock has a market capitalization of $54.75 billion, a price-to-earnings ratio of 12.47, a P/E/G ratio of 1.42 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same period in the prior year, the firm earned $0.78 EPS. The business’s revenue was up 10.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 4th were paid a dividend of $0.275 per share. The ex-dividend date was Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.84%. Schlumberger’s dividend payout ratio is 35.37%.

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.