Harbor Investment Advisory LLC Has $416,000 Stock Position in Schlumberger Limited (NYSE:SLB)

Harbor Investment Advisory LLC lessened its position in shares of Schlumberger Limited (NYSE:SLB) by 39.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 10,856 shares of the oil and gas company’s stock after selling 7,098 shares during the quarter. Harbor Investment Advisory LLC’s holdings in Schlumberger were worth $416,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Bank of America reduced their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Susquehanna dropped their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler began coverage on Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Stock Performance

Shares of SLB stock opened at $43.76 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm has a 50-day moving average of $40.84 and a 200-day moving average of $42.81. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The company has a market cap of $61.80 billion, a P/E ratio of 14.07, a P/E/G ratio of 3.61 and a beta of 1.52.

Schlumberger (NYSE:SLB) last posted 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. The firm had revenue of $9.28 billion for 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 company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 EPS. Equities research analysts forecast that Schlumberger Limited will post 3.29 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is 36.66%.

Insider Activity

In related news, insider Dianne B. Ralston sold 43,161 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total value of $1,897,357.56. Following the sale, the insider now owns 235,024 shares in the company, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 258,258 shares of company stock valued at $11,246,604 in the last ninety days. 0.26% of the stock is currently owned by insiders.

About Schlumberger

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.