Keybank National Association OH Lowers Stake in Schlumberger Limited (NYSE:SLB)

Keybank National Association OH cut its holdings in shares of Schlumberger Limited (NYSE:SLB) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 110,826 shares of the oil and gas company’s stock after selling 8,654 shares during the period. Keybank National Association OH’s holdings in Schlumberger were worth $4,249,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Prospera Private Wealth LLC acquired a new position in shares of Schlumberger during the third quarter worth $29,000. YANKCOM Partnership acquired a new position in shares of Schlumberger during the fourth quarter worth $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger during the fourth quarter worth $32,000. Golden State Wealth Management LLC acquired a new position in shares of Schlumberger during the fourth quarter worth $34,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Schlumberger during the third quarter worth $37,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on SLB. TD Cowen upped their price target on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. BMO Capital Markets cut their target price on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Citigroup upped their target price on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Piper Sandler initiated coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Finally, Evercore ISI reissued an “in-line” rating and issued a $44.00 target price (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the transaction, the executive vice president now directly owns 210,502 shares of the company’s stock, valued at approximately $8,723,202.88. This trade represents a 22.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gavin Rennick sold 26,990 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the transaction, the insider now directly owns 53,584 shares in the company, valued at $2,192,657.28. This represents a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock valued at $12,546,660 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Price Performance

Shares of SLB opened at $39.47 on Thursday. The business’s 50-day moving average is $40.62 and its two-hundred day moving average is $41.70. 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 Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The company has a market capitalization of $53.67 billion, a P/E ratio of 12.69, a P/E/G ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $9.24 billion. During the same period in the prior year, the company posted $0.86 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid 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 dividend yield of 2.89%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio is presently 36.66%.

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.