Schlumberger Limited (NYSE:SLB) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lowered its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 3.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 251,615 shares of the oil and gas company's stock after selling 9,806 shares during the quarter. Janney Montgomery Scott LLC's holdings in Schlumberger were worth $9,647,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Schlumberger by 25.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company's stock worth $31,961,000 after acquiring an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company's stock valued at $3,223,000 after purchasing an additional 16,350 shares during the period. Victory Capital Management Inc. lifted its stake in Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company's stock worth $34,305,000 after purchasing an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in shares of Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company's stock worth $827,000 after buying an additional 14,376 shares during the period. Finally, Los Angeles Capital Management LLC raised its holdings in shares of Schlumberger by 26.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company's stock valued at $12,880,000 after buying an additional 63,413 shares during the period. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Activity

In related news, insider Dianne B. Ralston sold 43,161 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the sale, the insider now directly owns 235,024 shares of the company's stock, valued at $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Abdellah Merad sold 60,000 shares of the business's stock in a transaction on Wednesday, January 29th. The shares were 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 in the company, valued at $8,723,202.88. This represents a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 258,258 shares of company stock valued at $11,219,004. Insiders own 0.26% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SLB. Jefferies Financial Group lowered their target price on Schlumberger from $64.00 to $61.00 and set a "buy" rating for the company in a report on Friday, January 3rd. Piper Sandler started coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a "neutral" rating and a $47.00 price objective for the company. Wells Fargo & Company reduced their target price on shares of Schlumberger from $49.00 to $46.00 and set an "equal weight" rating on the stock in a report on Tuesday, December 17th. BMO Capital Markets dropped their price target on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Citigroup increased their price objective on Schlumberger from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Six research 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $55.81.

Schlumberger Stock Performance

Shares of Schlumberger stock traded down $0.81 on Friday, hitting $40.21. The stock had a trading volume of 9,567,894 shares, compared to its average volume of 15,058,793. The company's 50 day moving average price is $40.58 and its 200 day moving average price is $42.63. The stock has a market cap of $56.32 billion, a price-to-earnings ratio of 12.93, a P/E/G ratio of 9.70 and a beta of 1.52. 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 52-week low of $36.52 and a 52-week high of $55.69.

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

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. 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 2.84%. Schlumberger's payout ratio is currently 35.37%.

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.