Highland Capital Management LLC cut its position in shares of Schlumberger Limited (NYSE:SLB – Free Report) by 9.5% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 171,065 shares of the oil and gas company’s stock after selling 17,864 shares during the quarter. Highland Capital Management LLC’s holdings in Schlumberger were worth $6,559,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in SLB. ORG Partners LLC boosted its holdings in Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Schlumberger in the third quarter worth $29,000. Ashton Thomas Securities LLC bought a new stake in Schlumberger in the third quarter worth $37,000. DiNuzzo Private Wealth Inc. boosted its holdings in Schlumberger by 1,068.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock worth $40,000 after acquiring an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP bought a new stake in Schlumberger in the third quarter worth $47,000. 81.99% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several equities research analysts have commented on the company. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Barclays dropped their price objective on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. TD Cowen increased their price objective on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Wells Fargo & Company dropped their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Finally, Stifel Nicolaus lowered their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. 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 data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.
Schlumberger Trading Down 1.1 %
SLB opened at $40.87 on Thursday. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The stock has a 50-day moving average of $40.69 and a 200 day moving average of $42.66. The firm has a market cap of $57.71 billion, a P/E ratio of 13.14, a P/E/G ratio of 9.98 and a beta of 1.52. 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 – Get Free Report) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion during 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%. The company’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.86 earnings per share. As a group, research analysts forecast that Schlumberger Limited will post 3.34 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 is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.79%. Schlumberger’s payout ratio is 35.37%.
Insider Buying and Selling
In related news, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the transaction, the vice president now directly owns 11,240 shares in the company, valued at approximately $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,258 shares of company stock valued at $11,219,004 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.
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.
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