Clearstead Trust LLC Sells 662 Shares of Schlumberger Limited (NYSE:SLB)

Clearstead Trust LLC trimmed its holdings in Schlumberger Limited (NYSE:SLB) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 29,709 shares of the oil and gas company’s stock after selling 662 shares during the period. Clearstead Trust LLC’s holdings in Schlumberger were worth $1,139,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Prospera Private Wealth LLC acquired a new stake in shares of Schlumberger in the third quarter worth $29,000. YANKCOM Partnership acquired a new stake in shares of Schlumberger in the fourth quarter worth $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Schlumberger in the fourth quarter worth $32,000. Golden State Wealth Management LLC acquired a new stake in shares of Schlumberger in the fourth quarter worth $34,000. Finally, Hager Investment Management Services LLC acquired a new stake in shares of Schlumberger in the fourth quarter worth $38,000. 81.99% of the stock is owned by institutional investors.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the 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 sale, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the sale, the insider now directly owns 53,584 shares in the company, valued at approximately $2,192,657.28. This represents a 33.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 290,772 shares of company stock valued at $12,546,660. 0.26% of the stock is owned by insiders.

Schlumberger Trading Up 2.9 %

Shares of SLB stock opened at $41.10 on Friday. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The stock has a market cap of $55.89 billion, a price-to-earnings ratio of 13.21, a P/E/G ratio of 10.10 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The firm has a fifty day moving average of $40.95 and a 200-day moving average of $41.52.

Schlumberger (NYSE:SLB) last posted its earnings results 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. 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 quarter in the prior year, the firm earned $0.86 EPS. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal 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 issued a $0.285 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.77%. Schlumberger’s dividend payout ratio is presently 36.66%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SLB shares. Royal Bank of Canada restated an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Wells Fargo & Company reduced their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Stifel Nicolaus reduced their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. JPMorgan Chase & Co. upped their target price on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Finally, Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

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.