Schlumberger Limited (NYSE:SLB) Shares Sold by SCP Investment LP

SCP Investment LP decreased its position in Schlumberger Limited (NYSE:SLB - Free Report) by 12.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,800 shares of the oil and gas company's stock after selling 6,000 shares during the period. Schlumberger accounts for 1.3% of SCP Investment LP's investment portfolio, making the stock its 14th biggest holding. SCP Investment LP's holdings in Schlumberger were worth $1,679,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SLB. YANKCOM Partnership purchased a new position in Schlumberger in the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC bought a new position in Schlumberger in the fourth quarter valued at $32,000. Golden State Wealth Management LLC purchased a new stake in Schlumberger during the fourth quarter valued at about $34,000. Hager Investment Management Services LLC bought a new position in shares of Schlumberger during the 4th quarter valued at about $38,000. Finally, Bogart Wealth LLC lifted its stake in shares of Schlumberger by 468.9% in the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock valued at $39,000 after acquiring an additional 844 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have commented on SLB. 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. Barclays reduced their target price on Schlumberger from $54.00 to $53.00 and set an "overweight" rating for the company in a report on Monday. TD Cowen lifted their price objective on Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, January 21st. Stifel Nicolaus dropped 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. Finally, Piper Sandler started coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a "neutral" rating and a $47.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $55.69.

Schlumberger Stock Performance

SLB stock traded down $2.63 during trading on Thursday, reaching $39.56. The company had a trading volume of 18,116,992 shares, compared to its average volume of 12,248,225. The firm has a 50-day simple moving average of $41.23 and a 200-day simple moving average of $41.50. The company has a market cap of $53.80 billion, a price-to-earnings ratio of 12.72, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) 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 analysts' expectations of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 EPS. As a group, sell-side analysts expect that Schlumberger Limited will post 3.38 earnings per share 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 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 dividend yield of 2.88%. Schlumberger's payout ratio is currently 36.66%.

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 43,161 shares of the stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the transaction, the insider now 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 filing with the SEC, which is available through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the business's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 210,502 shares in the company, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 315,905 shares of company stock worth $13,609,283. 0.26% of the stock is owned by corporate insiders.

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.