Austin Wealth Management LLC Sells 905 Shares of Schlumberger Limited (NYSE:SLB)

Austin Wealth Management LLC decreased its stake in Schlumberger Limited (NYSE:SLB) by 9.8% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 8,364 shares of the oil and gas company’s stock after selling 905 shares during the period. Austin Wealth Management LLC’s holdings in Schlumberger were worth $321,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC bought a new stake in shares of Schlumberger during the 3rd quarter worth approximately $29,000. YANKCOM Partnership acquired a new stake in shares of Schlumberger in the 4th quarter worth $31,000. Stonebridge Financial Group LLC acquired a new stake in Schlumberger during the 4th quarter worth about $32,000. Golden State Wealth Management LLC acquired a new stake in Schlumberger during the 4th quarter worth about $34,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Schlumberger in the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In other Schlumberger 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 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. This represents a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the transaction, the insider now owns 30,829 shares in the company, valued at approximately $1,245,799.89. This trade represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock worth $12,546,660 in the last three months. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SLB shares. TD Cowen upped their price target on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. BMO Capital Markets decreased their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Jefferies Financial Group reduced their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Price Performance

Shares of SLB stock opened at $40.09 on Wednesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company’s 50-day simple moving average is $40.83 and its two-hundred day simple moving average is $41.57. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The company has a market capitalization of $54.51 billion, a P/E ratio of 12.89, a P/E/G ratio of 10.10 and a beta of 1.47.

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

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 2.84%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date 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.