Gulf International Bank UK Ltd Reduces Stock Holdings in Schlumberger Limited (NYSE:SLB)

Gulf International Bank UK Ltd trimmed its holdings in Schlumberger Limited (NYSE:SLB) by 1.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 111,505 shares of the oil and gas company’s stock after selling 1,224 shares during the quarter. Gulf International Bank UK Ltd’s holdings in Schlumberger were worth $4,275,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new position in shares of Schlumberger in the 3rd quarter valued at about $29,000. YANKCOM Partnership purchased a new position in Schlumberger during the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger in the fourth quarter valued at approximately $32,000. Golden State Wealth Management LLC purchased a new stake in Schlumberger in the 4th quarter worth approximately $34,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Schlumberger during the 3rd quarter worth approximately $37,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the sale, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. This represents a 33.51 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Dianne B. Ralston sold 43,161 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the sale, the insider now directly owns 235,024 shares of the company’s stock, valued at $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 290,772 shares of company stock valued at $12,546,660. 0.26% of the stock is currently owned by insiders.

Schlumberger Trading Up 0.6 %

Shares of SLB stock opened at $40.86 on Friday. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The firm has a market capitalization of $55.56 billion, a P/E ratio of 13.14, a PEG ratio of 10.10 and a beta of 1.51. The stock’s fifty day moving average is $40.41 and its two-hundred day moving average is $41.84. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping 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 firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. During the same period last year, the firm posted $0.86 earnings per share. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Research 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 will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.79%. Schlumberger’s dividend payout ratio is 36.66%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SLB. Jefferies Financial Group decreased their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. BMO Capital Markets cut their price objective on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Barclays lowered their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Citigroup lifted their price target on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, TD Cowen increased their price target on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Six investment 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 stock. According to data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $55.81.

Schlumberger 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.