Schlumberger Limited (NYSE:SLB) Shares Sold by Nikko Asset Management Americas Inc.

Nikko Asset Management Americas Inc. lowered its position in Schlumberger Limited (NYSE:SLB) by 14.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 22,163 shares of the oil and gas company’s stock after selling 3,642 shares during the quarter. Nikko Asset Management Americas Inc.’s holdings in Schlumberger were worth $850,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of SLB. CX Institutional grew its holdings in Schlumberger by 2.4% during the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock valued at $398,000 after buying an additional 244 shares during the last quarter. GM Advisory Group LLC grew its holdings in Schlumberger by 3.8% during the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock valued at $281,000 after buying an additional 247 shares during the last quarter. TCW Group Inc. grew its holdings in Schlumberger by 1.3% during the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock valued at $759,000 after buying an additional 259 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in Schlumberger by 0.5% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock valued at $2,174,000 after buying an additional 262 shares during the last quarter. Finally, Cromwell Holdings LLC grew its holdings in Schlumberger by 7.0% during the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock valued at $167,000 after buying an additional 283 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Trading Up 0.8 %

NYSE:SLB opened at $41.42 on Tuesday. The business’s 50-day moving average is $41.00 and its two-hundred day moving average is $41.46. 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. The firm has a market capitalization of $56.32 billion, a PE ratio of 13.32, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last released its quarterly earnings data 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. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same period last year, the company posted $0.86 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. Research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.75%. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Analysts Set New Price Targets

A number of equities research analysts have commented on SLB shares. Piper Sandler started coverage on Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price on the stock. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Citigroup increased their price target on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Jefferies Financial Group reduced their price target on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Finally, BMO Capital Markets reduced their price target on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Insider Buying and Selling at Schlumberger

In other news, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the sale, the vice president now directly owns 11,240 shares in the company, valued at $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 290,772 shares of company stock valued at $12,546,660 over the last three months. 0.26% of the stock is owned by company 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.