Patron Partners LLC Grows Stock Holdings in Schlumberger Limited (NYSE:SLB)

Patron Partners LLC raised its holdings in shares of Schlumberger Limited (NYSE:SLB) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,498 shares of the oil and gas company’s stock after acquiring an additional 297 shares during the quarter. Patron Partners LLC’s holdings in Schlumberger were worth $326,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SLB. ORG Partners LLC boosted its stake in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after purchasing an additional 484 shares during the period. Prospera Private Wealth LLC purchased a new stake in shares of Schlumberger in the third quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new position in shares of Schlumberger in the 3rd quarter valued at $37,000. DiNuzzo Private Wealth Inc. grew its position in Schlumberger by 1,068.3% in 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 in the last quarter. Finally, J. Stern & Co. LLP purchased a new stake in shares of Schlumberger in the 3rd quarter valued at approximately $47,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SLB has been the subject of several recent research reports. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Piper Sandler started coverage on Schlumberger in a report 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 report on Friday, December 20th. Citigroup upped their price target on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, Atb Cap Markets lowered 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 given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Price Performance

Shares of SLB stock opened at $40.16 on Tuesday. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The stock’s fifty day moving average is $40.49 and its 200-day moving average is $42.49. The stock has a market capitalization of $56.26 billion, a PE ratio of 12.91, a PEG ratio of 9.55 and a beta of 1.51. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter last year, the business earned $0.86 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts expect that Schlumberger Limited will post 3.38 EPS 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 paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. 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 2.84%. Schlumberger’s dividend payout ratio is 35.37%.

Insiders Place Their Bets

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the transaction, the insider now owns 30,829 shares of the company’s stock, valued at $1,245,799.89. The trade was a 15.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction 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. This trade represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 263,782 shares of company stock worth $11,442,229. Company insiders own 0.26% of the company’s stock.

Schlumberger Company 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.