Sequent Asset Management LLC Cuts Stock Holdings in Schlumberger Limited (NYSE:SLB)

Sequent Asset Management LLC lessened its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 253,729 shares of the oil and gas company's stock after selling 15,000 shares during the quarter. Schlumberger comprises approximately 4.8% of Sequent Asset Management LLC's holdings, making the stock its 5th largest position. Sequent Asset Management LLC's holdings in Schlumberger were worth $9,728,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in SLB. ORG Partners LLC boosted its holdings in Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company's stock valued at $25,000 after acquiring an additional 484 shares during the period. Prospera Private Wealth LLC bought a new stake in Schlumberger during the 3rd quarter valued at approximately $29,000. Ashton Thomas Securities LLC acquired a new stake in Schlumberger in the 3rd quarter valued at approximately $37,000. DiNuzzo Private Wealth Inc. increased its position in Schlumberger by 1,068.3% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company's stock worth $40,000 after buying an additional 876 shares during the period. Finally, J. Stern & Co. LLP acquired a new position in shares of Schlumberger during the third quarter worth approximately $47,000. Institutional investors and hedge funds own 81.99% of the company's stock.

Insider Activity

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction 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. The trade was a 33.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction that occurred 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 sale, the insider now owns 235,024 shares of the company's stock, valued at approximately $10,331,655.04. This represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 263,782 shares of company stock valued at $11,442,229 over the last three months. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SLB. Piper Sandler initiated coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a "neutral" rating and a $47.00 price objective on the stock. Sanford C. Bernstein upgraded shares of Schlumberger to a "strong-buy" rating in a report on Tuesday, November 12th. Wells Fargo & Company reduced their target price on shares of Schlumberger from $49.00 to $46.00 and set an "equal weight" rating for the company in a research note on Tuesday, December 17th. Citigroup boosted their price target on Schlumberger from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, January 21st. Finally, Bank of America reduced their price objective on Schlumberger from $58.00 to $54.00 and set a "buy" rating for the company in a research report on Monday, October 14th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $55.81.

Schlumberger Stock Down 2.0 %

NYSE SLB opened at $40.21 on Monday. The stock's 50 day simple moving average is $40.49 and its 200 day simple moving average is $42.54. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The firm has a market cap of $56.32 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 9.55 and a beta of 1.51. 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 announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion for 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 business's revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced 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 an increase from Schlumberger's previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.84%. Schlumberger's payout ratio is currently 35.37%.

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.

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