Schlumberger Limited (NYSE:SLB) Shares Sold by Hodges Capital Management Inc.

Hodges Capital Management Inc. trimmed its stake in shares of Schlumberger Limited (NYSE:SLB) by 81.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,532 shares of the oil and gas company’s stock after selling 52,120 shares during the quarter. Hodges Capital Management Inc.’s holdings in Schlumberger were worth $442,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of SLB. ORG Partners LLC boosted its holdings in Schlumberger by 393.5% in the third 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 during the period. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger during the 3rd quarter valued at about $29,000. Ashton Thomas Securities LLC acquired a new stake in Schlumberger during the third quarter worth about $37,000. DiNuzzo Private Wealth Inc. lifted its holdings in Schlumberger by 1,068.3% in the third 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 acquired a new position in Schlumberger in the third quarter valued at approximately $47,000. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

SLB has been the subject of a number of recent research reports. Piper Sandler initiated coverage on Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Barclays dropped their price objective 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. Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. JPMorgan Chase & Co. boosted their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Jefferies Financial Group lowered their target price on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.81.

Schlumberger Trading Down 0.3 %

SLB opened at $40.16 on Tuesday. The firm has a 50 day simple moving average of $40.49 and a 200 day simple moving average of $42.49. The company has a market cap of $56.26 billion, a price-to-earnings ratio of 12.91, a price-to-earnings-growth ratio of 9.55 and a beta of 1.51. 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.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping 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 company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same quarter last year, the firm posted $0.86 earnings per share. Schlumberger’s revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.84%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Transactions at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. The trade was a 33.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the sale, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. This represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 263,782 shares of company stock worth $11,442,229 in the last 90 days. Corporate 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.