Schlumberger Limited (NYSE:SLB) Shares Sold by Hennion & Walsh Asset Management Inc.

Hennion & Walsh Asset Management Inc. decreased its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 13.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,708 shares of the oil and gas company's stock after selling 9,084 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Schlumberger were worth $2,251,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. ORG Partners LLC boosted its position 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 last quarter. Prospera Private Wealth LLC acquired a new stake in Schlumberger during the 3rd quarter valued at approximately $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Schlumberger in the 3rd quarter valued at $37,000. DiNuzzo Private Wealth Inc. increased its stake in shares of Schlumberger by 1,068.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company's stock worth $40,000 after acquiring an additional 876 shares during the period. Finally, J. Stern & Co. LLP purchased a new position in shares of Schlumberger during the third quarter worth $47,000. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Price Performance

Shares of SLB traded up $2.49 during trading hours on Friday, hitting $43.58. 30,717,717 shares of the stock were exchanged, compared to its average volume of 10,770,376. The stock's 50-day moving average price is $40.86 and its two-hundred day moving average price is $42.90. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The company has a market cap of $61.54 billion, a price-to-earnings ratio of 14.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69.

Schlumberger (NYSE:SLB - Get Free Report) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9,241,140 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The company's revenue for the quarter was up 3.3% compared to the same quarter last year. Research analysts expect that Schlumberger Limited will post 3.39 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. Stockholders of record on Wednesday, February 5th will be given a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.62%. Schlumberger's dividend payout ratio is 35.37%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SLB. Griffin Securities downgraded Schlumberger from a "buy" rating to a "neutral" rating in a research report on Friday, December 20th. BMO Capital Markets dropped their target price on Schlumberger from $53.00 to $48.00 in a report on Thursday. Piper Sandler assumed coverage on Schlumberger in a report on Thursday, December 19th. They issued a "neutral" rating and a $47.00 price target for the company. Wells Fargo & Company lowered their price objective on Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a research report on Tuesday, December 17th. Finally, Barclays cut their target price on shares of Schlumberger from $61.00 to $53.00 and set an "overweight" rating for the company in a report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $56.03.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president now owns 211,937 shares of the company's stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 0.26% of the company's stock.

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.