Providence Capital Advisors LLC Increases Holdings in Schlumberger Limited (NYSE:SLB)

Providence Capital Advisors LLC grew its stake in Schlumberger Limited (NYSE:SLB) by 0.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 179,707 shares of the oil and gas company’s stock after purchasing an additional 1,014 shares during the quarter. Schlumberger comprises about 1.4% of Providence Capital Advisors LLC’s holdings, making the stock its 23rd biggest holding. Providence Capital Advisors LLC’s holdings in Schlumberger were worth $6,890,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Penserra Capital Management LLC grew its holdings in shares of Schlumberger by 9,041.9% during the third quarter. Penserra Capital Management LLC now owns 10,696 shares of the oil and gas company’s stock valued at $448,000 after buying an additional 10,579 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of Schlumberger by 23.8% during the 3rd quarter. Private Trust Co. NA now owns 2,281 shares of the oil and gas company’s stock valued at $96,000 after buying an additional 439 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of Schlumberger by 2.0% during the third quarter. The Manufacturers Life Insurance Company now owns 1,215,726 shares of the oil and gas company’s stock worth $51,000,000 after purchasing an additional 24,377 shares in the last quarter. D.A. Davidson & CO. grew its stake in Schlumberger by 24.9% during the third quarter. D.A. Davidson & CO. now owns 127,053 shares of the oil and gas company’s stock valued at $5,330,000 after acquiring an additional 25,368 shares in the last quarter. Finally, Avestar Capital LLC grew its holdings in Schlumberger by 12.1% during the 3rd quarter. Avestar Capital LLC now owns 6,192 shares of the oil and gas company’s stock valued at $260,000 after buying an additional 670 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Stock Down 0.7 %

Shares of NYSE:SLB opened at $42.14 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The company has a market capitalization of $57.31 billion, a P/E ratio of 13.55, a P/E/G ratio of 10.10 and a beta of 1.47. The stock’s fifty day simple moving average is $41.32 and its 200-day simple moving average is $41.43. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 earnings per share. As a group, equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.71%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

Insider Buying and Selling

In related news, EVP Mogharbel Khaled Al sold 123,097 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total value of $5,427,346.73. Following the sale, the executive vice president now owns 184,626 shares of the company’s stock, valued at $8,140,160.34. This trade represents a 40.00 % decrease in their position. The transaction 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 the company’s stock in a transaction that occurred 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 completion of the sale, the director now owns 49,595 shares of the company’s stock, valued at $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. Insiders have sold 290,772 shares of company stock valued at $12,546,660 in the last quarter. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on SLB. Barclays lowered their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Stifel Nicolaus decreased their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Piper Sandler began coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Finally, Citigroup lifted their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.69.

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.