Kerusso Capital Management LLC Takes Position in Schlumberger Limited (NYSE:SLB)

Kerusso Capital Management LLC bought a new stake in Schlumberger Limited (NYSE:SLB) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 36,101 shares of the oil and gas company’s stock, valued at approximately $1,384,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Sierra Ocean LLC purchased a new position in Schlumberger during the fourth quarter worth about $74,000. J.W. Cole Advisors Inc. boosted its position in Schlumberger by 56.0% during the fourth quarter. J.W. Cole Advisors Inc. now owns 22,317 shares of the oil and gas company’s stock worth $856,000 after acquiring an additional 8,011 shares during the last quarter. Hourglass Capital LLC boosted its position in Schlumberger by 22.1% during the fourth quarter. Hourglass Capital LLC now owns 219,345 shares of the oil and gas company’s stock worth $8,410,000 after acquiring an additional 39,675 shares during the last quarter. VeraBank N.A. boosted its holdings in shares of Schlumberger by 7.5% in the 4th quarter. VeraBank N.A. now owns 7,957 shares of the oil and gas company’s stock valued at $305,000 after purchasing an additional 557 shares during the last quarter. Finally, Sheaff Brock Investment Advisors LLC acquired a new position in shares of Schlumberger in the 4th quarter valued at $647,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction 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 directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. This trade represents a 15.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 value of $1,098,500.00. Following the sale, the director now owns 49,595 shares in the company, valued at $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 263,782 shares of company stock worth $11,442,229. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.8 %

SLB stock opened at $41.75 on Monday. The company has a market cap of $58.48 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 9.49 and a beta of 1.51. The business has a 50-day simple moving average of $40.08 and a 200 day simple moving average of $42.01. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. 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 issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping 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 firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The business’s quarterly revenue was up 3.3% on a year-over-year basis. Sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders 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 2.73%. This is a boost 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 is presently 36.66%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on SLB shares. Piper Sandler began coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price on the stock. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Susquehanna decreased their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. BMO Capital Markets reduced their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Wells Fargo & Company reduced their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Six investment 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, Schlumberger currently has an average 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.