CALIFORNIA FIRST LEASING Corp Purchases Shares of 129,000 Schlumberger Limited (NYSE:SLB)

CALIFORNIA FIRST LEASING Corp acquired a new position in shares of Schlumberger Limited (NYSE:SLBGet Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 129,000 shares of the oil and gas company’s stock, valued at approximately $3,864,000. Schlumberger makes up 1.9% of CALIFORNIA FIRST LEASING Corp’s holdings, making the stock its 22nd largest position.

Other large investors have also recently bought and sold shares of the company. Equitec Proprietary Markets LLC acquired a new stake in Schlumberger during the 4th quarter valued at $25,000. Old North State Trust LLC lifted its position in Schlumberger by 91.4% during the 4th quarter. Old North State Trust LLC now owns 911 shares of the oil and gas company’s stock worth $27,000 after buying an additional 435 shares in the last quarter. Duncker Streett & Co. Inc. grew its holdings in Schlumberger by 51.1% during the 4th quarter. Duncker Streett & Co. Inc. now owns 893 shares of the oil and gas company’s stock worth $27,000 after acquiring an additional 302 shares during the last quarter. Kozak & Associates Inc. acquired a new stake in Schlumberger in the 3rd quarter valued at about $30,000. Finally, Liberty Wealth Management LLC raised its stake in shares of Schlumberger by 50.4% in the third quarter. Liberty Wealth Management LLC now owns 1,047 shares of the oil and gas company’s stock worth $32,000 after acquiring an additional 351 shares during the last quarter. Institutional investors own 76.34% of the company’s stock.

Shares of Schlumberger stock traded up $0.81 during trading hours on Tuesday, hitting $42.95. The company’s stock had a trading volume of 9,934,189 shares, compared to its average volume of 15,810,173. The company has a market capitalization of $60.71 billion, a PE ratio of 29.22 and a beta of 1.91. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.24 and a quick ratio of 0.89. The stock has a 50 day moving average of $41.16 and a 200 day moving average of $36.97. Schlumberger Limited has a 12 month low of $25.90 and a 12 month high of $46.27.

Schlumberger (NYSE:SLBGet Rating) last issued its quarterly earnings data on Friday, April 22nd. The oil and gas company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.02. Schlumberger had a return on equity of 14.02% and a net margin of 8.84%. The business had revenue of $5.96 billion during the quarter, compared to analyst estimates of $5.90 billion. During the same period in the previous year, the firm earned $0.21 EPS. Schlumberger’s quarterly revenue was up 14.1% compared to the same quarter last year. Equities analysts expect that Schlumberger Limited will post 1.85 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 14th. Investors of record on Wednesday, June 1st will be issued a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.63%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.13. The ex-dividend date is Tuesday, May 31st. Schlumberger’s dividend payout ratio (DPR) is presently 34.01%.

A number of analysts recently weighed in on SLB shares. Citigroup raised their price target on shares of Schlumberger from $40.00 to $42.00 and gave the company a “buy” rating in a report on Monday, January 24th. BNP Paribas upgraded Schlumberger from a “neutral” rating to an “outperform” rating and set a $45.00 target price for the company in a research report on Wednesday, January 26th. Piper Sandler upgraded Schlumberger from a “neutral” rating to an “overweight” rating and raised their price target for the company from $43.00 to $55.00 in a report on Monday, April 11th. Argus boosted their price objective on Schlumberger from $38.00 to $45.00 in a report on Tuesday, January 25th. Finally, StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a research note on Monday, April 25th. Three research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $46.51.

In related news, VP Kevin Fyfe sold 20,708 shares of the firm’s stock in a transaction on Wednesday, March 2nd. The shares were sold at an average price of $38.50, for a total value of $797,258.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Limited/Nv Schlumberger sold 14,500,000 shares of the business’s stock in a transaction dated Tuesday, May 3rd. The stock was sold at an average price of $15.50, for a total transaction of $224,750,000.00. Following the sale, the insider now directly owns 35,101,961 shares in the company, valued at $544,080,395.50. The disclosure for this sale can be found here. Insiders sold a total of 14,562,336 shares of company stock worth $227,323,962 over the last ninety days. 0.28% of the stock is currently owned by insiders.

Schlumberger Company Profile (Get Rating)

Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.

See Also

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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