Brighton Jones LLC Purchases 1,166 Shares of Schlumberger Limited (NYSE:SLB)

Brighton Jones LLC increased its stake in Schlumberger Limited (NYSE:SLB) by 21.4% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,611 shares of the oil and gas company’s stock after purchasing an additional 1,166 shares during the quarter. Brighton Jones LLC’s holdings in Schlumberger were worth $253,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLB. AQR Capital Management LLC increased its holdings in Schlumberger by 26.4% in the 2nd quarter. AQR Capital Management LLC now owns 557,533 shares of the oil and gas company’s stock valued at $26,210,000 after buying an additional 116,284 shares during the period. APG Asset Management N.V. grew its holdings in Schlumberger by 8.4% in the second quarter. APG Asset Management N.V. now owns 150,796 shares of the oil and gas company’s stock worth $6,638,000 after purchasing an additional 11,735 shares during the period. Ascent Group LLC increased its position in shares of Schlumberger by 7.7% during the second quarter. Ascent Group LLC now owns 20,544 shares of the oil and gas company’s stock worth $969,000 after acquiring an additional 1,469 shares in the last quarter. Creative Planning raised its position in Schlumberger by 51.2% in the 2nd quarter. Creative Planning now owns 263,407 shares of the oil and gas company’s stock valued at $12,428,000 after buying an additional 89,226 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of Schlumberger by 89.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 132,062 shares of the oil and gas company’s stock worth $6,231,000 after buying an additional 62,466 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on SLB shares. Piper Sandler began coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. BMO Capital Markets cut their price objective on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. JPMorgan Chase & Co. increased their price target on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Bank of America lowered their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Trading Up 0.7 %

Shares of SLB opened at $42.55 on Tuesday. 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’s fifty day simple moving average is $40.74 and its 200-day simple moving average is $42.72. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The company has a market cap of $60.08 billion, a P/E ratio of 13.68, a P/E/G ratio of 9.98 and a beta of 1.52.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9,241,140 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.86 EPS. As a group, analysts expect that Schlumberger Limited will post 3.34 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors 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 positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.68%. Schlumberger’s dividend payout ratio is 35.37%.

Insider Activity

In other news, Director Vijay Kasibhatla sold 25,000 shares of the company’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 transaction, the director now owns 49,595 shares in the company, valued at $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the sale, the vice president now directly owns 11,240 shares in the company, valued at approximately $496,808. This represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 198,258 shares of company stock worth $8,732,604. Corporate insiders own 0.26% of the company’s stock.

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.