Allspring Global Investments Holdings LLC Sells 4,027 Shares of Schlumberger Limited (NYSE:SLB)

Allspring Global Investments Holdings LLC lowered its holdings in Schlumberger Limited (NYSE:SLB) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 953,099 shares of the oil and gas company’s stock after selling 4,027 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Schlumberger were worth $36,599,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Avidian Wealth Enterprises LLC grew its position in shares of Schlumberger by 4.8% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 15,365 shares of the oil and gas company’s stock worth $589,000 after buying an additional 705 shares during the last quarter. Great Lakes Retirement Inc. grew its position in shares of Schlumberger by 60.7% in the 4th quarter. Great Lakes Retirement Inc. now owns 257,784 shares of the oil and gas company’s stock worth $9,883,000 after buying an additional 97,375 shares during the last quarter. Kentucky Trust Co purchased a new position in shares of Schlumberger in the 4th quarter worth approximately $50,000. Schwartz Investment Counsel Inc. grew its position in shares of Schlumberger by 1.5% in the 4th quarter. Schwartz Investment Counsel Inc. now owns 333,800 shares of the oil and gas company’s stock worth $12,798,000 after buying an additional 5,000 shares during the last quarter. Finally, Capital Advisors Inc. OK grew its position in shares of Schlumberger by 2.8% in the 4th quarter. Capital Advisors Inc. OK now owns 658,409 shares of the oil and gas company’s stock worth $25,243,000 after buying an additional 17,634 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Schlumberger stock opened at $41.75 on Friday. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The firm has a market capitalization of $58.48 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 9.49 and a beta of 1.51. The company has a fifty day simple moving average of $40.06 and a 200-day simple moving average of $42.09. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. During the same quarter in the prior year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.73%. Schlumberger’s dividend payout ratio is presently 36.66%.

Wall Street Analyst Weigh In

SLB has been the topic of a number of analyst reports. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Royal Bank of Canada reissued an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Evercore ISI reissued an “in-line” rating and set a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. JPMorgan Chase & Co. boosted their target price on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Six 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 company. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $55.81.

Insider Transactions at Schlumberger

In related news, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were 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 owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the sale, the insider now directly owns 30,829 shares of the company’s stock, valued at $1,245,799.89. This represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,782 shares of company stock valued at $11,442,229 over the last 90 days. 0.26% of the stock is currently owned by corporate insiders.

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.