Schlumberger Limited (NYSE:SLB) Shares Sold by LGT Group Foundation

LGT Group Foundation lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 68.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 47,193 shares of the oil and gas company’s stock after selling 104,218 shares during the quarter. LGT Group Foundation’s holdings in Schlumberger were worth $1,809,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Prospera Private Wealth LLC purchased a new position in Schlumberger during the third quarter worth approximately $29,000. YANKCOM Partnership purchased a new position in Schlumberger during the fourth quarter worth approximately $31,000. Stonebridge Financial Group LLC purchased a new position in Schlumberger during the fourth quarter worth approximately $32,000. Golden State Wealth Management LLC purchased a new position in Schlumberger during the fourth quarter worth approximately $34,000. Finally, Ashton Thomas Securities LLC purchased a new position in Schlumberger during the third quarter worth approximately $37,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SLB. BMO Capital Markets cut their price target on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Royal Bank of Canada reissued an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Finally, Stifel Nicolaus cut their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Insiders Place Their Bets

In other news, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the transaction, the executive vice president now directly owns 184,626 shares of the company’s stock, valued at approximately $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 accessible through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the transaction, the director now directly owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 290,772 shares of company stock valued at $12,546,660 in the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

SLB opened at $39.81 on Tuesday. The company has a fifty day simple moving average of $40.56 and a 200 day simple moving average of $41.76. The firm has a market cap of $54.14 billion, a price-to-earnings ratio of 12.80, a PEG ratio of 10.10 and a beta of 1.51. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last announced 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. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.86 EPS. Equities research analysts expect that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders 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. This represents a $1.14 annualized dividend and a yield of 2.86%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

Schlumberger 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.