Kovack Advisors Inc. Sells 8,203 Shares of Schlumberger Limited (NYSE:SLB)

Kovack Advisors Inc. lowered its stake in shares of Schlumberger Limited (NYSE:SLB) by 18.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,440 shares of the oil and gas company’s stock after selling 8,203 shares during the quarter. Kovack Advisors Inc.’s holdings in Schlumberger were worth $1,435,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in the stock. State Street Corp raised its position in shares of Schlumberger by 0.6% in the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after purchasing an additional 528,279 shares during the last quarter. Geode Capital Management LLC raised its position in Schlumberger by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock worth $1,195,290,000 after buying an additional 239,966 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Schlumberger by 12,289.6% during the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock worth $500,082,000 after purchasing an additional 12,938,082 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Schlumberger by 20.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after purchasing an additional 1,916,851 shares during the period. Finally, Van ECK Associates Corp grew its stake in shares of Schlumberger by 12.7% during the 4th quarter. Van ECK Associates Corp now owns 8,103,715 shares of the oil and gas company’s stock worth $310,696,000 after purchasing an additional 915,925 shares during the period. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

Schlumberger stock opened at $40.53 on Thursday. The stock’s 50-day moving average is $40.33 and its 200-day moving average is $41.85. The company has a market cap of $55.11 billion, a price-to-earnings ratio of 13.03, a price-to-earnings-growth ratio of 10.10 and a beta of 1.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the business posted $0.86 EPS. Equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.81%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is presently 36.66%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SLB shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. Jefferies Financial Group lowered their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, Piper Sandler began coverage on Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. 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 a consensus rating of “Moderate Buy” and an average price target of $55.81.

Insider Buying and Selling at Schlumberger

In other news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 11,240 shares of the company’s stock, valued at approximately $496,808. The trade was a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 290,772 shares of company stock worth $12,546,660 in the last 90 days. 0.26% of the stock is owned by corporate insiders.

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.