LGT Group Foundation Sells 104,218 Shares of Schlumberger Limited (NYSE:SLB)

LGT Group Foundation trimmed its position in Schlumberger Limited (NYSE:SLB - Free Report) by 68.8% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 47,193 shares of the oil and gas company's stock after selling 104,218 shares during the period. LGT Group Foundation's holdings in Schlumberger were worth $1,809,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Financial Advocates Investment Management raised its stake in shares of Schlumberger by 11.5% during the 3rd quarter. Financial Advocates Investment Management now owns 7,311 shares of the oil and gas company's stock worth $307,000 after purchasing an additional 753 shares during the period. Stephens Inc. AR increased its holdings in Schlumberger by 37.3% during the third quarter. Stephens Inc. AR now owns 14,035 shares of the oil and gas company's stock worth $589,000 after buying an additional 3,812 shares during the last quarter. Janney Montgomery Scott LLC raised its position in Schlumberger by 24.9% in the third quarter. Janney Montgomery Scott LLC now owns 261,421 shares of the oil and gas company's stock worth $10,967,000 after acquiring an additional 52,134 shares during the period. Forum Financial Management LP boosted its stake in Schlumberger by 1.7% in the third quarter. Forum Financial Management LP now owns 19,417 shares of the oil and gas company's stock valued at $815,000 after acquiring an additional 329 shares during the last quarter. Finally, KG&L Capital Management LLC boosted its stake in Schlumberger by 49.4% in the third quarter. KG&L Capital Management LLC now owns 20,379 shares of the oil and gas company's stock valued at $909,000 after acquiring an additional 6,735 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

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Schlumberger Price Performance

Schlumberger stock traded up $1.60 during midday trading on Friday, hitting $41.36. 19,612,293 shares of the company's stock were exchanged, compared to its average volume of 14,442,100. The company has a market cap of $56.25 billion, a P/E ratio of 13.30, a PEG ratio of 10.10 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The stock has a 50-day moving average price of $40.66 and a two-hundred day moving average price of $41.69. 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, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion for the quarter, compared to analysts' expectations of $9.24 billion. During the same period in the prior year, the business earned $0.86 earnings per share. Schlumberger's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.76%. This is a boost from Schlumberger's previous quarterly dividend of $0.28. Schlumberger's dividend payout ratio (DPR) is 36.66%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SLB. Wells Fargo & Company lowered their price target 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 lowered their target price on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Royal Bank of Canada reiterated an "outperform" rating and set a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. Citigroup lifted their price objective on Schlumberger from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Finally, Griffin Securities downgraded shares of Schlumberger from a "buy" rating to a "neutral" rating in a report on Friday, December 20th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Schlumberger presently has an average rating of "Moderate Buy" and an average target price of $55.81.

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 stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the sale, the executive vice president now 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 filing with the SEC, which is available through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the company's stock in a transaction that occurred 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 directly owns 49,595 shares of the company's stock, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 290,772 shares of company stock valued at $12,546,660. 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.