Sanibel Captiva Trust Company Inc. Decreases Stock Holdings in Schlumberger Limited (NYSE:SLB)

Sanibel Captiva Trust Company Inc. lowered its holdings in Schlumberger Limited (NYSE:SLB) by 45.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,261 shares of the oil and gas company’s stock after selling 95,888 shares during the period. Sanibel Captiva Trust Company Inc.’s holdings in Schlumberger were worth $4,342,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SLB. ORG Partners LLC raised its stake in shares of Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after purchasing an additional 484 shares during the period. Prospera Private Wealth LLC purchased a new stake in Schlumberger during the third quarter worth about $29,000. Ashton Thomas Securities LLC bought a new stake in Schlumberger in the third quarter worth about $37,000. DiNuzzo Private Wealth Inc. boosted its stake in Schlumberger by 1,068.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after acquiring an additional 876 shares during the last quarter. Finally, J. Stern & Co. LLP bought a new position in shares of Schlumberger during the 3rd quarter valued at approximately $47,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB opened at $43.58 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The stock has a 50-day moving average price of $40.85 and a 200-day moving average price of $42.92. The company has a market cap of $61.54 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 EPS. As a group, equities analysts forecast that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 2.62%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is currently 35.37%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on 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 directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % 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. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Piper Sandler initiated coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target on the stock. Jefferies Financial Group dropped their price target on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. BMO Capital Markets decreased their price objective on Schlumberger from $53.00 to $48.00 in a report on Thursday. TD Cowen dropped their price objective on shares of Schlumberger from $65.00 to $53.00 and set a “buy” rating on the stock in a report on Wednesday, January 8th. Finally, Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $56.03.

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.