Hardman Johnston Global Advisors LLC Sells 2,540 Shares of Schlumberger Limited (NYSE:SLB)

Hardman Johnston Global Advisors LLC trimmed its holdings in Schlumberger Limited (NYSE:SLB) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 95,108 shares of the oil and gas company’s stock after selling 2,540 shares during the period. Hardman Johnston Global Advisors LLC’s holdings in Schlumberger were worth $3,646,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new stake in shares of Schlumberger in the third quarter valued at approximately $29,000. YANKCOM Partnership acquired a new stake in shares of Schlumberger in the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Schlumberger in the fourth quarter valued at approximately $32,000. Ashton Thomas Securities LLC acquired a new stake in shares of Schlumberger in the third quarter valued at approximately $37,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Schlumberger in the fourth quarter valued at approximately $34,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of recent analyst reports. BMO Capital Markets cut their price objective on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. JPMorgan Chase & Co. lifted their price target on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Royal Bank of Canada reissued an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a report on Tuesday, January 21st. Citigroup lifted their price target on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, Piper Sandler assumed coverage on Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target for the company. Six 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. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Insider Buying and Selling

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the transaction, the insider now directly owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the transaction, the vice president now directly owns 11,240 shares in the company, valued at $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 263,782 shares of company stock worth $11,442,229 in the last 90 days. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 2.1 %

Shares of SLB opened at $41.73 on Monday. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The business’s fifty day moving average is $40.20 and its 200-day moving average is $41.89. 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 firm has a market cap of $58.45 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 10.10 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. Schlumberger’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 EPS. Equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal 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 given a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.73%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is currently 36.66%.

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.