Nomura Asset Management Co. Ltd. Sells 10,551 Shares of Schlumberger Limited (NYSE:SLB)

Nomura Asset Management Co. Ltd. decreased its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 486,618 shares of the oil and gas company's stock after selling 10,551 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Schlumberger were worth $18,657,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. YANKCOM Partnership purchased a new stake in Schlumberger during the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC purchased a new stake in Schlumberger in the fourth quarter valued at $32,000. Golden State Wealth Management LLC acquired a new stake in shares of Schlumberger in the 4th quarter valued at about $34,000. Hager Investment Management Services LLC purchased a new position in shares of Schlumberger during the fourth quarter worth approximately $38,000. Finally, Bogart Wealth LLC increased its stake in 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 purchasing an additional 844 shares during the period. Hedge funds and other institutional investors own 81.99% of the company's stock.

Schlumberger Stock Performance

Shares of NYSE SLB traded down $2.90 during midday trading on Thursday, hitting $39.29. 11,811,767 shares of the company's stock were exchanged, compared to its average volume of 12,226,990. The company's 50 day moving average price is $41.23 and its 200 day moving average price is $41.50. 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 $53.43 billion, a PE ratio of 12.63, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

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Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $9.24 billion. During the same quarter last year, the company earned $0.86 earnings per share. The firm's quarterly revenue was up 3.3% compared to the same quarter last year. As a group, analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is a boost 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 annualized dividend and a yield of 2.90%. Schlumberger's dividend payout ratio is currently 36.66%.

Insiders Place Their Bets

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the business's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the transaction, the insider now owns 30,829 shares of the company's stock, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Aparna Raman sold 25,133 shares of the company's stock in a transaction that occurred on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the transaction, the insider now owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. This represents a 44.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 315,905 shares of company stock worth $13,609,283 over the last ninety days. Corporate insiders own 0.26% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SLB shares. Citigroup increased their price target on Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Piper Sandler assumed coverage on Schlumberger in a research report on Thursday, December 19th. They issued a "neutral" rating and a $47.00 price target for the company. TD Cowen increased their target price on Schlumberger from $53.00 to $55.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Royal Bank of Canada reissued an "outperform" rating and set a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Finally, Jefferies Financial Group decreased their price target on Schlumberger from $60.00 to $59.00 and set a "buy" rating on the stock in a research note on Thursday, March 27th. Six analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $55.69.

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.