Edgemoor Investment Advisors Inc. Has $1.97 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Edgemoor Investment Advisors Inc. lessened its stake in Schlumberger Limited (NYSE:SLB) by 9.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 51,332 shares of the oil and gas company’s stock after selling 5,061 shares during the quarter. Edgemoor Investment Advisors Inc.’s holdings in Schlumberger were worth $1,968,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. CX Institutional increased its stake in Schlumberger by 2.4% in the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock valued at $398,000 after buying an additional 244 shares during the period. GM Advisory Group LLC increased its stake in Schlumberger by 3.8% in the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock valued at $281,000 after buying an additional 247 shares during the period. TCW Group Inc. increased its stake in Schlumberger by 1.3% in the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock valued at $759,000 after buying an additional 259 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Schlumberger by 0.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock worth $2,174,000 after purchasing an additional 262 shares during the last quarter. Finally, Cromwell Holdings LLC increased its stake in shares of Schlumberger by 7.0% during the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock worth $167,000 after purchasing an additional 283 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In related news, insider Gavin Rennick sold 26,990 shares of Schlumberger stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the transaction, the insider now directly owns 53,584 shares of the company’s stock, valued at $2,192,657.28. This trade represents a 33.50 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the transaction, the vice president now directly owns 11,240 shares of the company’s stock, valued at $496,808. This represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 290,772 shares of company stock valued at $12,546,660. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on SLB shares. TD Cowen increased their price target on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Royal Bank of Canada restated an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. Stifel Nicolaus dropped their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Wells Fargo & Company dropped their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Finally, Piper Sandler started coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Price Performance

Shares of Schlumberger stock opened at $41.10 on Monday. 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 Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The firm has a fifty day moving average price of $40.95 and a two-hundred day moving average price of $41.48. The company has a market cap of $55.89 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last released its quarterly earnings data 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. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS. Analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The firm 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 dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.77%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

Schlumberger Profile

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.