Lyell Wealth Management LP Reduces Stock Position in Schlumberger Limited (NYSE:SLB)

Lyell Wealth Management LP trimmed its position in Schlumberger Limited (NYSE:SLB - Free Report) by 28.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 152,641 shares of the oil and gas company's stock after selling 60,601 shares during the quarter. Lyell Wealth Management LP's holdings in Schlumberger were worth $5,852,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SLB. Pacer Advisors Inc. lifted its holdings in Schlumberger by 12,289.6% in 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 period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company's stock worth $470,425,000 after purchasing an additional 1,916,851 shares in the last quarter. Scharf Investments LLC bought a new position in Schlumberger during the 4th quarter valued at approximately $52,607,000. Van ECK Associates Corp grew its position in Schlumberger by 12.7% during the 4th quarter. Van ECK Associates Corp now owns 8,103,715 shares of the oil and gas company's stock valued at $310,696,000 after purchasing an additional 915,925 shares during the last quarter. Finally, Weiss Asset Management LP bought a new position in shares of Schlumberger in the third quarter worth approximately $37,322,000. Institutional investors own 81.99% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a report on Monday, December 23rd. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. BMO Capital Markets dropped their price target on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Piper Sandler began coverage on Schlumberger in a research note on Thursday, December 19th. They issued a "neutral" rating and a $47.00 price target for the company. Finally, Citigroup boosted their target price on Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Tuesday, January 21st. Six 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 company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $55.81.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the company's stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the transaction, the executive vice president now directly owns 210,502 shares of the company's stock, valued at $8,723,202.88. This represents a 22.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the sale, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. This represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 263,782 shares of company stock valued at $11,442,229. Corporate insiders own 0.26% of the company's stock.

Schlumberger Stock Performance

Shares of NYSE:SLB traded down $0.87 on Friday, hitting $41.73. 13,669,641 shares of the company were exchanged, compared to its average volume of 14,156,785. The firm has a market capitalization of $58.45 billion, a P/E ratio of 13.42, a price-to-earnings-growth ratio of 10.00 and a beta of 1.51. 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 1-year low of $36.52 and a 1-year high of $55.69. The stock's 50 day moving average price is $40.20 and its 200 day moving average price is $41.91.

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

Schlumberger Increases Dividend

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

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.