Schlumberger Limited (NYSE:SLB) Shares Sold by GQG Partners LLC

GQG Partners LLC lowered its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 99.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 94,045 shares of the oil and gas company's stock after selling 9,920,997 shares during the quarter. GQG Partners LLC's holdings in Schlumberger were worth $3,606,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of SLB. CX Institutional grew its stake in Schlumberger by 2.4% in the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company's stock valued at $398,000 after acquiring an additional 244 shares during the period. TCW Group Inc. grew its position in shares of Schlumberger by 1.3% in the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company's stock valued at $759,000 after purchasing an additional 259 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Schlumberger by 0.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company's stock worth $2,174,000 after purchasing an additional 262 shares in the last quarter. Cromwell Holdings LLC raised its position in shares of Schlumberger by 7.0% during the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company's stock worth $167,000 after purchasing an additional 283 shares during the last quarter. Finally, Mitchell Mcleod Pugh & Williams Inc. lifted its stake in Schlumberger by 2.0% in the 4th quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 14,775 shares of the oil and gas company's stock valued at $566,000 after buying an additional 293 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insiders Place Their Bets

In related news, insider Gavin Rennick sold 26,990 shares of the business's stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the transaction, the insider now directly owns 53,584 shares of the company's stock, valued at $2,192,657.28. The trade was a 33.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Dianne B. Ralston sold 43,161 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the sale, the insider now directly owns 235,024 shares in the company, valued at $10,331,655.04. This represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 290,772 shares of company stock worth $12,546,660 over the last 90 days. Corporate insiders own 0.26% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Jefferies Financial Group reduced their target price on Schlumberger from $60.00 to $59.00 and set a "buy" rating for the company in a report on Thursday. Barclays decreased their price objective on Schlumberger from $61.00 to $53.00 and set an "overweight" rating on the stock in a report on Wednesday, December 18th. Atb Cap Markets cut shares of Schlumberger from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, December 10th. Citigroup raised their price target on shares of Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Finally, Griffin Securities downgraded shares of Schlumberger from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $55.69.

Schlumberger Trading Down 0.6 %

NYSE SLB traded down $0.24 on Friday, reaching $41.87. The stock had a trading volume of 12,887,648 shares, compared to its average volume of 12,188,001. 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 stock has a fifty day moving average price of $41.29 and a two-hundred day moving average price of $41.46. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.65. The firm has a market capitalization of $56.93 billion, a price-to-earnings ratio of 13.46, a P/E/G ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (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 analyst estimates of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger's revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 EPS. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 2.72%. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio (DPR) is currently 36.66%.

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.