Oak Harvest Investment Services Sells 7,854 Shares of Schlumberger Limited (NYSE:SLB)

Oak Harvest Investment Services cut its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 4.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 171,256 shares of the oil and gas company's stock after selling 7,854 shares during the quarter. Oak Harvest Investment Services' holdings in Schlumberger were worth $6,566,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ORG Partners LLC lifted its holdings in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company's stock valued at $25,000 after purchasing an additional 484 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in Schlumberger during the third quarter valued at $29,000. Ashton Thomas Securities LLC bought a new stake in Schlumberger in the third quarter worth $37,000. DiNuzzo Private Wealth Inc. grew 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 last quarter. Finally, J. Stern & Co. LLP bought a new position in shares of Schlumberger during the third quarter valued at $47,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Schlumberger news, EVP Mogharbel Khaled Al sold 123,097 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the sale, the executive vice president now directly owns 184,626 shares of the company's stock, valued at $8,140,160.34. The trade was a 40.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the firm's stock in a transaction 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 completion of the sale, the director now owns 49,595 shares of the company's stock, valued at approximately $2,179,204.30. This 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 263,782 shares of company stock worth $11,442,229 over the last 90 days. Corporate insiders own 0.26% of the company's stock.

Schlumberger Stock Performance

NYSE:SLB traded down $0.12 during mid-day trading on Monday, hitting $40.16. 12,502,774 shares of the company traded hands, compared to its average volume of 15,147,393. 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's fifty day moving average price is $40.49 and its 200-day moving average price is $42.49. The firm has a market cap of $56.26 billion, a price-to-earnings ratio of 12.91, a price-to-earnings-growth ratio of 9.55 and a beta of 1.51. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69.

Schlumberger (NYSE:SLB - Get Free Report) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company's revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm earned $0.86 EPS. Research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 2.84%. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio is 35.37%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SLB. TD Cowen upped their price target on shares of Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Stifel Nicolaus cut their price target 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. Evercore ISI restated an "in-line" rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Wells Fargo & Company cut their target price on Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Tuesday, December 17th. Finally, Atb Cap Markets cut Schlumberger from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $55.81.

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.