Schlumberger Limited (NYSE:SLB) Position Reduced by Freestone Capital Holdings LLC

Freestone Capital Holdings LLC cut its holdings in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 17.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,205 shares of the oil and gas company's stock after selling 8,062 shares during the quarter. Freestone Capital Holdings LLC's holdings in Schlumberger were worth $1,503,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in SLB. Prospera Private Wealth LLC acquired a new stake in Schlumberger in the third quarter valued at $29,000. YANKCOM Partnership bought a new stake in shares of Schlumberger in the 4th quarter worth about $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Schlumberger in the 4th quarter valued at about $32,000. Ashton Thomas Securities LLC bought a new position in shares of Schlumberger during the third quarter worth about $37,000. Finally, Golden State Wealth Management LLC acquired a new position in Schlumberger in the fourth quarter worth about $34,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Griffin Securities cut Schlumberger from a "buy" rating to a "neutral" rating in a research note on Friday, December 20th. JPMorgan Chase & Co. upped their price target on Schlumberger from $48.00 to $50.00 and gave the company an "overweight" rating in a research report on Tuesday, January 21st. BMO Capital Markets decreased their price objective on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Jefferies Financial Group dropped their target price on shares of Schlumberger from $64.00 to $61.00 and set a "buy" rating on the stock in a report on Friday, January 3rd. Finally, TD Cowen raised their price target on shares of Schlumberger from $53.00 to $55.00 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 given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $55.81.

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Schlumberger Stock Performance

Shares of NYSE SLB traded down $0.24 during midday trading on Monday, reaching $41.14. 18,716,103 shares of the company traded hands, compared to its average volume of 14,538,538. The company has a market cap of $55.94 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 10.10 and a beta of 1.47. The stock has a 50-day moving average price of $40.73 and a 200 day moving average price of $41.63. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB - Get Free Report) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts' consensus estimates of $0.90 by $0.02. The company 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%. Schlumberger's revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.86 EPS. Sell-side analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid 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 dividend on an annualized basis and a yield of 2.77%. The ex-dividend date is Wednesday, February 5th. Schlumberger's dividend payout ratio (DPR) is presently 36.66%.

Insider Transactions at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 123,097 shares of the business's stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total value of $5,427,346.73. Following the sale, the executive vice president now directly owns 184,626 shares in the company, valued at $8,140,160.34. The trade was a 40.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gavin Rennick sold 26,990 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the sale, the insider now owns 53,584 shares of the company's stock, valued at $2,192,657.28. The trade was a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 290,772 shares of company stock valued at $12,546,660. Corporate insiders own 0.26% of the company's stock.

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.