Sanibel Captiva Trust Company Inc. Cuts Position in Schlumberger Limited (NYSE:SLB)

Sanibel Captiva Trust Company Inc. trimmed its position in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 45.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,261 shares of the oil and gas company's stock after selling 95,888 shares during the quarter. Sanibel Captiva Trust Company Inc.'s holdings in Schlumberger were worth $4,342,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SLB. State Street Corp raised its position in shares of Schlumberger by 0.6% in the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company's stock worth $3,808,476,000 after acquiring an additional 528,279 shares during the period. Geode Capital Management LLC increased its stake in shares of Schlumberger by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company's stock valued at $1,195,290,000 after purchasing an additional 239,966 shares in the last quarter. Legal & General Group Plc raised its holdings in Schlumberger by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company's stock worth $598,544,000 after purchasing an additional 1,560,684 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Schlumberger by 20.6% during the third 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. Finally, Charles Schwab Investment Management Inc. grew its holdings in Schlumberger by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company's stock valued at $335,214,000 after purchasing an additional 31,718 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on SLB shares. JPMorgan Chase & Co. reduced their target price on Schlumberger from $55.00 to $48.00 and set an "overweight" rating for the company in a research note on Thursday, January 2nd. Jefferies Financial Group reduced their price objective on shares of Schlumberger from $64.00 to $61.00 and set a "buy" rating for the company in a research report on Friday, January 3rd. Piper Sandler assumed coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a "neutral" rating and a $47.00 target price for the company. Sanford C. Bernstein upgraded Schlumberger to a "strong-buy" rating in a research report on Tuesday, November 12th. Finally, BMO Capital Markets dropped their price target on Schlumberger from $53.00 to $48.00 in a research report on Thursday. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Schlumberger has a consensus rating of "Moderate Buy" and an average target price of $56.03.

Schlumberger Trading Up 6.1 %

Shares of Schlumberger stock traded up $2.49 during trading hours on Friday, hitting $43.58. The company's stock had a trading volume of 30,717,717 shares, compared to its average volume of 10,770,376. The firm has a fifty day moving average of $40.86 and a 200-day moving average of $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 stock has a market cap of $61.54 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 1.35 and a beta of 1.52. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts' consensus estimates of $0.90 by $0.02. The company had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9,241,140 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. Schlumberger's revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 earnings per share. Research analysts forecast that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Increases Dividend

The company 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 dividend of $0.285 per share. This is a positive change from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.62%. Schlumberger's dividend payout ratio (DPR) is currently 35.37%.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares of the company's stock, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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.