BigSur Wealth Management LLC Makes New $1.72 Million Investment in Schlumberger Limited (NYSE:SLB)

BigSur Wealth Management LLC purchased a new stake in shares of Schlumberger Limited (NYSE:SLB) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 44,920 shares of the oil and gas company’s stock, valued at approximately $1,722,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Grove Bank & Trust boosted its stake in Schlumberger by 17.4% during the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after buying an additional 224 shares during the period. M&R Capital Management Inc. boosted its position in shares of Schlumberger by 1.7% during the 3rd quarter. M&R Capital Management Inc. now owns 14,817 shares of the oil and gas company’s stock valued at $622,000 after acquiring an additional 241 shares during the last quarter. GM Advisory Group LLC boosted its position in shares of Schlumberger by 3.8% during 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 acquiring an additional 247 shares during the last quarter. Cordatus Wealth Management LLC grew its holdings in shares of Schlumberger by 2.1% during the third quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock worth $561,000 after purchasing an additional 281 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its position in shares of Schlumberger by 0.7% in the third quarter. OneDigital Investment Advisors LLC now owns 40,715 shares of the oil and gas company’s stock worth $1,708,000 after purchasing an additional 284 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Schlumberger from $55.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday, January 2nd. Atb Cap Markets lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Barclays lowered 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. Piper Sandler started coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Finally, Bank of America decreased their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $56.03.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 6.1 %

Shares of NYSE:SLB opened at $43.58 on Monday. The stock’s 50-day moving average is $40.86 and its 200 day moving average is $42.87. The company has a market cap of $61.54 billion, a PE ratio of 14.01, a P/E/G ratio of 1.35 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69.

Schlumberger (NYSE:SLB) last posted its 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 21.84% and a net margin of 12.44%. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same period in the previous year, the firm earned $0.86 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. Sell-side analysts anticipate that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Increases Dividend

The business also recently announced 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 represents a $1.14 annualized dividend and a dividend yield of 2.62%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

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.