Allianz SE Invests $6.26 Million in Schlumberger Limited (NYSE:SLB)

Allianz SE purchased a new stake in shares of Schlumberger Limited (NYSE:SLB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 165,595 shares of the oil and gas company’s stock, valued at approximately $6,261,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. YANKCOM Partnership purchased a new position in shares of Schlumberger during the 4th quarter valued at about $31,000. Stonebridge Financial Group LLC bought a new position in Schlumberger during the fourth quarter valued at approximately $32,000. Golden State Wealth Management LLC purchased a new position in shares of Schlumberger during the fourth quarter worth approximately $34,000. Hager Investment Management Services LLC bought a new stake in shares of Schlumberger in the 4th quarter worth approximately $38,000. Finally, Bogart Wealth LLC boosted its stake in shares of Schlumberger by 468.9% in the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 844 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In related news, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the transaction, the insider now owns 30,829 shares in the company, valued at $1,245,799.89. The trade was a 15.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 290,772 shares of company stock worth $12,546,660 in the last 90 days. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 0.6 %

NYSE SLB opened at $41.87 on Friday. The firm has a market capitalization of $56.93 billion, a PE ratio of 13.46, a P/E/G ratio of 10.10 and a beta of 1.47. The stock’s 50 day moving average is $41.29 and its 200 day moving average is $41.46. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.65. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last released its 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 $9.24 billion. During the same period in the prior year, the firm earned $0.86 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. Research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a $0.285 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.72%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s payout ratio is currently 36.66%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on SLB shares. 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 price target for the company. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Barclays reduced their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. JPMorgan Chase & Co. boosted their price objective on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $55.69.

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.