King Luther Capital Management Corp trimmed its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 49.5% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 18,070 shares of the oil and gas company's stock after selling 17,727 shares during the quarter. King Luther Capital Management Corp's holdings in Schlumberger were worth $693,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of SLB. CX Institutional raised its position in shares of Schlumberger by 2.4% in the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company's stock worth $398,000 after acquiring an additional 244 shares in the last quarter. GM Advisory Group LLC grew its stake in Schlumberger by 3.8% in the third quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company's stock valued at $281,000 after purchasing an additional 247 shares during the last quarter. TCW Group Inc. raised its holdings in Schlumberger by 1.3% in the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company's stock worth $759,000 after purchasing an additional 259 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Schlumberger by 0.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company's stock valued at $2,174,000 after buying an additional 262 shares in the last quarter. Finally, Cromwell Holdings LLC raised its stake 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 acquiring an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.
Schlumberger Trading Down 0.3 %
Shares of NYSE:SLB opened at $39.92 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The business has a 50 day moving average of $40.90 and a two-hundred day moving average of $41.55. The company has a market capitalization of $54.28 billion, a PE ratio of 12.84, a PEG 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, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to analysts' expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business's revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 EPS. As a group, analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.
Schlumberger Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.86%. Schlumberger's dividend payout ratio (DPR) is 36.66%.
Wall Street Analyst Weigh In
SLB has been the topic of several research analyst reports. Jefferies Financial Group dropped their target price on Schlumberger from $64.00 to $61.00 and set a "buy" rating on the stock in a research note on Friday, January 3rd. Barclays dropped their price target on Schlumberger from $61.00 to $53.00 and set an "overweight" rating on the stock in a research note on Wednesday, December 18th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. JPMorgan Chase & Co. boosted their target price on shares of Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company decreased their price target on shares of Schlumberger from $49.00 to $46.00 and set an "equal weight" rating for the company in a report on Tuesday, December 17th. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $55.81.
Get Our Latest Analysis on Schlumberger
Insider Activity at Schlumberger
In related news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the sale, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the sale, the director now owns 49,595 shares of the company's stock, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 290,772 shares of company stock worth $12,546,660 in the last 90 days. Corporate insiders own 0.26% of the company's stock.
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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