Schlumberger Limited (NYSE:SLB) Stock Holdings Lessened by Founders Capital Management

Founders Capital Management lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 12.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 38,396 shares of the oil and gas company’s stock after selling 5,503 shares during the period. Schlumberger accounts for approximately 0.9% of Founders Capital Management’s holdings, making the stock its 24th biggest position. Founders Capital Management’s holdings in Schlumberger were worth $1,472,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Oppenheimer Asset Management Inc. raised its holdings in shares of Schlumberger by 50.7% during the second quarter. Oppenheimer Asset Management Inc. now owns 6,133 shares of the oil and gas company’s stock valued at $289,000 after buying an additional 2,063 shares during the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Schlumberger by 10.4% in the second quarter. Envestnet Asset Management Inc. now owns 927,875 shares of the oil and gas company’s stock worth $43,777,000 after purchasing an additional 87,236 shares in the last quarter. Lyell Wealth Management LP lifted its position in shares of Schlumberger by 15.0% in the second quarter. Lyell Wealth Management LP now owns 220,214 shares of the oil and gas company’s stock worth $10,390,000 after purchasing an additional 28,799 shares in the last quarter. Mystic Asset Management Inc. boosted its holdings in shares of Schlumberger by 4.7% during the second quarter. Mystic Asset Management Inc. now owns 8,773 shares of the oil and gas company’s stock worth $414,000 after purchasing an additional 395 shares during the period. Finally, WINTON GROUP Ltd grew its position in Schlumberger by 186.7% during the second quarter. WINTON GROUP Ltd now owns 93,115 shares of the oil and gas company’s stock valued at $4,393,000 after purchasing an additional 60,640 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Dbs Bank started coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Bank of America reduced their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, UBS Group decreased their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $57.58.

Schlumberger Price Performance

Shares of SLB traded up $0.91 during mid-day trading on Monday, reaching $39.53. The company had a trading volume of 6,386,884 shares, compared to its average volume of 10,334,441. The company has a market capitalization of $55.82 billion, a price-to-earnings ratio of 12.71, a P/E/G ratio of 1.42 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The company’s 50 day simple moving average is $40.97 and its 200 day simple moving average is $43.05. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. Analysts expect that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.78%. The ex-dividend date was Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is currently 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.