Daymark Wealth Partners LLC Trims Position in Schlumberger Limited (NYSE:SLB)

Daymark Wealth Partners LLC reduced its holdings in Schlumberger Limited (NYSE:SLB) by 31.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,871 shares of the oil and gas company’s stock after selling 4,579 shares during the period. Daymark Wealth Partners LLC’s holdings in Schlumberger were worth $378,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ORG Partners LLC grew its position in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the period. Prospera Private Wealth LLC acquired a new stake in Schlumberger during the third quarter worth about $29,000. Ashton Thomas Securities LLC purchased a new position in Schlumberger during the third quarter valued at approximately $37,000. DiNuzzo Private Wealth Inc. lifted its holdings in Schlumberger by 1,068.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 876 shares during the period. Finally, J. Stern & Co. LLP purchased a new stake in Schlumberger in the 3rd quarter worth approximately $47,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity at Schlumberger

In other news, EVP Mogharbel Khaled Al sold 123,097 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 184,626 shares in the company, valued at approximately $8,140,160.34. This represents a 40.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 198,258 shares of company stock worth $8,732,604. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $41.99 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The business’s 50 day moving average price is $40.79 and its 200 day moving average price is $42.79. The company has a market cap of $59.29 billion, a price-to-earnings ratio of 13.50, a PEG ratio of 3.58 and a beta of 1.52. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same quarter in the previous year, the company posted $0.86 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. On average, research analysts predict that Schlumberger Limited will post 3.33 EPS for the current year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 2.72%. The ex-dividend date is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is presently 35.37%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SLB shares. Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. TD Cowen upped their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday. Piper Sandler initiated coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a report on Tuesday. Finally, Susquehanna dropped their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Six equities research 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 company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.81.

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.