Schlumberger Limited (NYSE:SLB) Holdings Trimmed by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC cut its holdings in Schlumberger Limited (NYSE:SLB) by 5.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,852 shares of the oil and gas company’s stock after selling 745 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Schlumberger were worth $531,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. ORG Partners LLC raised its holdings in shares of 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 bought a new position in shares of Schlumberger in the third quarter valued at $29,000. Ashton Thomas Securities LLC acquired a new stake in shares of Schlumberger during the 3rd quarter valued at $37,000. DiNuzzo Private Wealth Inc. lifted its position in shares of Schlumberger by 1,068.3% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP acquired a new position in shares of Schlumberger in the 3rd quarter worth $47,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Performance

Shares of NYSE SLB opened at $43.58 on Friday. The firm has a market capitalization of $61.54 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.35 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. The business has a fifty day simple moving average of $40.85 and a 200 day simple moving average of $42.92. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9,241,140 billion. During the same period in the previous year, the business earned $0.86 EPS. The firm’s revenue was up 3.3% on a year-over-year basis. Sell-side analysts expect that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.62%. Schlumberger’s payout ratio is currently 35.37%.

Wall Street Analysts Forecast Growth

SLB has been the subject of several recent analyst reports. Sanford C. Bernstein upgraded shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Piper Sandler initiated 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. TD Cowen reduced their price target on Schlumberger from $65.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. BMO Capital Markets reduced their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday. Finally, Atb Cap Markets lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Six 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 $56.03.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company 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.