Heritage Wealth Management Inc. Texas Trims Holdings in Schlumberger Limited (NYSE:SLB)

Heritage Wealth Management Inc. Texas lowered its stake in shares of Schlumberger Limited (NYSE:SLB) by 10.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,418 shares of the oil and gas company’s stock after selling 1,709 shares during the period. Schlumberger makes up approximately 0.3% of Heritage Wealth Management Inc. Texas’ investment portfolio, making the stock its 20th largest position. Heritage Wealth Management Inc. Texas’ holdings in Schlumberger were worth $553,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in 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 buying an additional 1,916,851 shares during the period. Legal & General Group Plc grew its position in shares of Schlumberger by 14.0% during the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after buying an additional 1,560,684 shares in the last quarter. Weiss Asset Management LP acquired a new stake in Schlumberger in the third quarter valued at approximately $37,322,000. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Schlumberger by 395.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 778,938 shares of the oil and gas company’s stock worth $32,676,000 after acquiring an additional 621,809 shares in the last quarter. Finally, State Street Corp grew its stake in shares of Schlumberger by 0.6% during the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after purchasing an additional 528,279 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. JPMorgan Chase & Co. increased their price target on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday. Bank of America reduced their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, Stifel Nicolaus reduced their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Insider Buying and Selling

In other Schlumberger news, EVP Mogharbel Khaled Al sold 123,097 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total value of $5,427,346.73. Following the transaction, the executive vice president now directly owns 184,626 shares in the company, valued at approximately $8,140,160.34. This represents a 40.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dianne B. Ralston sold 43,161 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the transaction, the insider now directly owns 235,024 shares of the company’s stock, valued at approximately $10,331,655.04. This represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 198,258 shares of company stock worth $8,732,604 in the last three months. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $41.99 on Friday. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The company has a 50-day moving average price of $40.79 and a 200 day moving average price of $42.79. The company has a market cap of $59.29 billion, a P/E ratio of 13.50, a PEG ratio of 9.98 and a beta of 1.52. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same quarter in the prior year, the business posted $0.86 earnings per share. Schlumberger’s revenue was up 3.3% compared to the same quarter last year. Research analysts predict that Schlumberger Limited will post 3.34 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.72%. Schlumberger’s payout ratio is currently 35.37%.

Schlumberger Company 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.