GAMMA Investing LLC Sells 977 Shares of Schlumberger Limited (NYSE:SLB)

GAMMA Investing LLC lowered its holdings in shares of Schlumberger Limited (NYSE:SLB) by 6.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 14,893 shares of the oil and gas company’s stock after selling 977 shares during the period. GAMMA Investing LLC’s holdings in Schlumberger were worth $571,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. 1832 Asset Management L.P. bought a new position in shares of Schlumberger during the 2nd quarter worth approximately $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Schlumberger by 20.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after purchasing an additional 1,916,851 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Schlumberger by 14.9% in the second quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock valued at $333,445,000 after purchasing an additional 915,705 shares during the period. Finally, Merewether Investment Management LP acquired a new stake in shares of Schlumberger during the 2nd quarter worth about $42,957,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research note on Thursday, October 3rd. Citigroup dropped their price target on Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a report on Thursday, December 19th. TD Cowen lowered their price objective on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Jefferies Financial Group reduced their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Friday. Finally, Dbs Bank began coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 price target on the stock. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $58.25.

Insider Activity

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 0.5 %

SLB opened at $38.59 on Monday. The company has a market cap of $54.50 billion, a P/E ratio of 12.41, a PEG ratio of 1.42 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $41.12 and its 200-day moving average is $43.32. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same quarter last year, the business posted $0.78 earnings per share. The company’s quarterly revenue was up 10.2% on a year-over-year basis. Equities research analysts predict that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a yield of 2.85%. Schlumberger’s dividend payout ratio is presently 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.