DnB Asset Management AS Lowers Stock Position in Schlumberger Limited (NYSE:SLB)

DnB Asset Management AS cut its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 8.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,259,458 shares of the oil and gas company's stock after selling 117,498 shares during the quarter. DnB Asset Management AS owned approximately 0.09% of Schlumberger worth $48,288,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SLB. YANKCOM Partnership purchased a new stake in shares of Schlumberger in the fourth quarter worth $31,000. Stonebridge Financial Group LLC bought a new position in Schlumberger in the 4th quarter worth $32,000. Golden State Wealth Management LLC purchased a new stake in Schlumberger in the 4th quarter worth $34,000. Hager Investment Management Services LLC bought a new stake in Schlumberger during the fourth quarter valued at about $38,000. Finally, Bogart Wealth LLC lifted its position in shares of Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock valued at $39,000 after acquiring an additional 844 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Trading Down 0.1 %

NYSE SLB traded down $0.05 during trading on Monday, hitting $41.83. The stock had a trading volume of 13,391,905 shares, compared to its average volume of 15,335,450. The stock has a market capitalization of $56.89 billion, a price-to-earnings ratio of 13.45, a P/E/G ratio of 10.10 and a beta of 1.47. The stock has a 50 day simple moving average of $41.29 and a 200 day simple moving average of $41.47. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

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Schlumberger (NYSE:SLB - Get Free Report) last posted its quarterly earnings data 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. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $9.28 billion during the quarter, compared to analysts' expectations of $9.24 billion. During the same quarter in the previous year, the business earned $0.86 EPS. Schlumberger's revenue was up 3.3% compared to the same quarter last year. Sell-side analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 2.73%. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio (DPR) is currently 36.66%.

Analysts Set New Price Targets

Several analysts recently issued reports on SLB shares. JPMorgan Chase & Co. lifted their target price on Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research note on Tuesday, January 21st. Barclays reduced their price objective on shares of Schlumberger from $54.00 to $53.00 and set an "overweight" rating on the stock in a research report on Monday. Wells Fargo & Company dropped their target price on shares of Schlumberger from $49.00 to $46.00 and set an "equal weight" rating for the company in a research report on Tuesday, December 17th. Griffin Securities cut shares of Schlumberger from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. Finally, TD Cowen increased their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $55.69.

Insider Activity at Schlumberger

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the firm's stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the transaction, the vice president now directly owns 11,240 shares in the company, valued at $496,808. This trade represents a 38.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the company's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the sale, the insider now owns 30,829 shares of the company's stock, valued at $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock worth $12,546,660 in the last 90 days. 0.26% of the stock is owned by corporate insiders.

Schlumberger Company 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.