Inspire Investing LLC Sells 8,598 Shares of Schlumberger Limited (NYSE:SLB)

Inspire Investing LLC cut its stake in Schlumberger Limited (NYSE:SLB) by 6.2% in the 4th quarter, Holdings Channel reports. The firm owned 129,392 shares of the oil and gas company’s stock after selling 8,598 shares during the period. Inspire Investing LLC’s holdings in Schlumberger were worth $4,961,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Grove Bank & Trust increased its stake in shares of 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 purchasing an additional 224 shares in the last quarter. M&R Capital Management Inc. boosted its holdings in Schlumberger by 1.7% in the third quarter. M&R Capital Management Inc. now owns 14,817 shares of the oil and gas company’s stock worth $622,000 after purchasing an additional 241 shares during the last quarter. GM Advisory Group LLC boosted its holdings in Schlumberger by 3.8% in the third quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock worth $281,000 after purchasing an additional 247 shares during the last quarter. Cordatus Wealth Management LLC boosted its holdings in Schlumberger by 2.1% in 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 during the last quarter. Finally, OneDigital Investment Advisors LLC raised its position in 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 acquiring an additional 284 shares during the period. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Schlumberger

In other 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 in the company, valued at approximately $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 can be accessed through this hyperlink. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the completion of the sale, the executive vice president now owns 184,626 shares of the company’s stock, valued at approximately $8,140,160.34. This represents a 40.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 198,258 shares of company stock valued at $8,732,604 in the last three months. Company insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

SLB stock opened at $41.62 on Thursday. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company has a 50-day moving average price of $40.79 and a 200 day moving average price of $42.79. The stock has a market cap of $58.78 billion, a PE ratio of 13.38, a P/E/G ratio of 3.58 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its quarterly earnings data 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. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 EPS. Equities research analysts anticipate that Schlumberger Limited will post 3.33 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. Shareholders of record on Wednesday, February 5th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 2.74%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s payout ratio is 35.37%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SLB. Citigroup increased their price target on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday. Piper Sandler started coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target on the stock. TD Cowen lifted their price target on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday. Bank of America reduced their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Evercore ISI reiterated an “in-line” rating and issued a $44.00 price target (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

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.