Schlumberger Limited (NYSE:SLB) Shares Sold by Quinn Opportunity Partners LLC

Quinn Opportunity Partners LLC lessened its stake in Schlumberger Limited (NYSE:SLB) by 6.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 77,000 shares of the oil and gas company’s stock after selling 5,500 shares during the quarter. Quinn Opportunity Partners LLC’s holdings in Schlumberger were worth $2,952,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Heritage Trust Co acquired a new stake in Schlumberger during the fourth quarter valued at approximately $234,000. Argent Trust Co raised its position in shares of Schlumberger by 3.1% during the 4th quarter. Argent Trust Co now owns 86,355 shares of the oil and gas company’s stock valued at $3,311,000 after acquiring an additional 2,607 shares in the last quarter. LSV Asset Management bought a new position in Schlumberger during the fourth quarter worth $479,000. F M Investments LLC lifted its stake in Schlumberger by 9.9% during the fourth quarter. F M Investments LLC now owns 113,223 shares of the oil and gas company’s stock worth $4,341,000 after purchasing an additional 10,192 shares during the last quarter. Finally, CenterBook Partners LP boosted its holdings in Schlumberger by 91.6% in the fourth quarter. CenterBook Partners LP now owns 47,724 shares of the oil and gas company’s stock worth $1,830,000 after purchasing an additional 22,814 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Activity

In related news, insider Aparna Raman sold 25,133 shares of Schlumberger stock in a transaction dated Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the transaction, the insider now owns 31,031 shares of the company’s stock, valued at approximately $1,311,990.68. This trade represents a 44.75 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the sale, the insider now directly 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. In the last 90 days, insiders sold 315,905 shares of company stock worth $13,609,283. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 9.6 %

Shares of SLB stock opened at $32.52 on Friday. The stock has a 50-day simple moving average of $40.13 and a 200 day simple moving average of $41.09. The stock has a market capitalization of $44.22 billion, a P/E ratio of 10.46, a P/E/G ratio of 10.10 and a beta of 1.11. Schlumberger Limited has a fifty-two week low of $31.11 and a fifty-two week high of $54.63. 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 posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. During the same quarter last year, the firm posted $0.86 EPS. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, sell-side analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th were issued a $0.285 dividend. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 3.51%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is currently 36.66%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SLB shares. Jefferies Financial Group reduced their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Citigroup upped their target price on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. raised 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. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, BMO Capital Markets reduced their price target on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $54.68.

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.