Schlumberger Limited (NYSE:SLB) Shares Sold by Copeland Capital Management LLC

Copeland Capital Management LLC decreased its holdings in Schlumberger Limited (NYSE:SLB) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,643 shares of the oil and gas company’s stock after selling 968 shares during the quarter. Copeland Capital Management LLC’s holdings in Schlumberger were worth $715,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky boosted its stake in shares of Schlumberger by 25.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after buying an additional 156,698 shares during the period. Wilmington Savings Fund Society FSB grew its stake in shares of Schlumberger by 27.0% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after purchasing an additional 16,350 shares during the last quarter. Victory Capital Management Inc. increased its holdings in shares of Schlumberger by 8.7% in the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after purchasing an additional 65,318 shares during the period. Concurrent Investment Advisors LLC raised its stake in shares of Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after purchasing an additional 14,376 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its holdings in shares of Schlumberger by 26.0% during the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock worth $12,880,000 after purchasing an additional 63,413 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of analyst reports. Piper Sandler began coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Stifel Nicolaus cut their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Citigroup lifted their price objective on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Evercore ISI reissued an “in-line” rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. 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 company’s stock. According to data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $55.81.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $40.21 on Monday. 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 business’s fifty day moving average price is $40.49 and its two-hundred day moving average price is $42.54. The stock has a market cap of $56.32 billion, a PE ratio of 12.93, a price-to-earnings-growth ratio of 9.55 and a beta of 1.51. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $9.24 billion. During the same quarter in the previous year, the business posted $0.86 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. On average, analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This is a boost 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 yield of 2.84%. Schlumberger’s payout ratio is 35.37%.

Insider Activity

In other news, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the sale, the insider now directly owns 30,829 shares in the company, valued at $1,245,799.89. This represents a 15.20 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The shares were 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 in the company, valued at $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 263,782 shares of company stock valued at $11,442,229 in the last 90 days. 0.26% of the stock is currently owned by insiders.

Schlumberger 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.