Cannell & Spears LLC lowered its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 79.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,668 shares of the oil and gas company's stock after selling 96,765 shares during the period. Cannell & Spears LLC's holdings in Schlumberger were worth $946,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in shares of Schlumberger during the 4th quarter worth about $735,398,000. Pacer Advisors Inc. lifted its position in shares of Schlumberger by 12,289.6% during the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company's stock worth $500,082,000 after buying an additional 12,938,082 shares during the last quarter. Clearbridge Investments LLC lifted its position in shares of Schlumberger by 43,028.0% during the 4th quarter. Clearbridge Investments LLC now owns 2,652,804 shares of the oil and gas company's stock worth $101,708,000 after buying an additional 2,646,653 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its holdings in shares of Schlumberger by 196.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 2,312,304 shares of the oil and gas company's stock valued at $88,654,000 after buying an additional 1,533,366 shares in the last quarter. Finally, Boston Partners raised its stake in Schlumberger by 9.9% during the 4th quarter. Boston Partners now owns 15,529,159 shares of the oil and gas company's stock worth $597,356,000 after acquiring an additional 1,405,186 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.
Insider Transactions at Schlumberger
In related news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the transaction, the insider now directly owns 31,031 shares in the company, valued at $1,311,990.68. The trade was a 44.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the sale, the executive vice president now owns 210,502 shares in the company, valued at approximately $8,723,202.88. This trade represents a 22.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 315,905 shares of company stock valued at $13,609,283 in the last 90 days. 0.26% of the stock is currently owned by insiders.
Wall Street Analysts Forecast Growth
SLB has been the subject of several research analyst reports. Royal Bank of Canada restated an "outperform" rating and issued a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Evercore ISI restated an "in-line" rating and set a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Griffin Securities lowered Schlumberger from a "buy" rating to a "neutral" rating in a research report on Friday, December 20th. Stifel Nicolaus decreased their price objective on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a report on Monday, December 23rd. Finally, Barclays cut their target price on shares of Schlumberger from $54.00 to $53.00 and set an "overweight" rating on the stock in a report on Monday. Six research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.69.
Read Our Latest Research Report on SLB
Schlumberger Price Performance
Shares of NYSE SLB traded up $0.03 during midday trading on Wednesday, hitting $42.23. The company had a trading volume of 16,496,123 shares, compared to its average volume of 12,220,085. 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 business has a 50-day simple moving average of $41.23 and a two-hundred day simple moving average of $41.50. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.65. The firm has a market capitalization of $57.43 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47.
Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly 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. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same quarter in the previous year, the company earned $0.86 EPS. The company's quarterly revenue was up 3.3% on a year-over-year basis. Equities research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share 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 $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.70%. This is a boost from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio (DPR) is currently 36.66%.
About Schlumberger
(
Free Report)
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.
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