Baker Ellis Asset Management LLC Makes New $457,000 Investment in Schlumberger Limited (NYSE:SLB)

Baker Ellis Asset Management LLC bought a new stake in Schlumberger Limited (NYSE:SLB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 11,925 shares of the oil and gas company’s stock, valued at approximately $457,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Teachers Retirement System of The State of Kentucky raised its position in Schlumberger by 25.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after acquiring an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB grew its holdings in Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after purchasing an additional 16,350 shares during the period. Victory Capital Management Inc. grew its stake in Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after buying an additional 65,318 shares during the period. Concurrent Investment Advisors LLC grew its stake in Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after buying an additional 14,376 shares during the period. Finally, Los Angeles Capital Management LLC grew its stake in Schlumberger by 26.0% during the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock worth $12,880,000 after buying an additional 63,413 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Down 4.8 %

SLB opened at $41.62 on Thursday. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm’s fifty day moving average price is $40.83 and its two-hundred day moving average price is $42.80. The company has a market capitalization of $58.78 billion, a P/E ratio of 13.38, a P/E/G ratio of 3.58 and a beta of 1.52.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9,241,140 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. On average, analysts anticipate that Schlumberger Limited will post 3.33 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.74%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is currently 35.37%.

Insiders Place Their Bets

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the transaction, the vice president now directly owns 11,240 shares of the company’s stock, valued at approximately $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the transaction, the director now directly owns 49,595 shares of the company’s stock, valued at approximately $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. Insiders have sold 198,258 shares of company stock worth $8,732,604 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Piper Sandler assumed coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. Barclays dropped their target price 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. Wells Fargo & Company dropped their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Jefferies Financial Group decreased their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Finally, Atb Cap Markets lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.81.

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.