Schlumberger Limited (NYSE:SLB) Position Decreased by Teacher Retirement System of Texas

Teacher Retirement System of Texas reduced its holdings in Schlumberger Limited (NYSE:SLB) by 1.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,750 shares of the oil and gas company’s stock after selling 1,582 shares during the quarter. Teacher Retirement System of Texas’ holdings in Schlumberger were worth $3,211,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky lifted its position in shares of Schlumberger by 25.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock valued at $31,961,000 after acquiring an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB raised its position in shares of Schlumberger by 27.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after purchasing an additional 16,350 shares during the period. Bryn Mawr Capital Management LLC lifted its holdings in shares of Schlumberger by 502.6% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company’s stock valued at $7,592,000 after purchasing an additional 165,162 shares during the last quarter. Narwhal Capital Management boosted its position in shares of Schlumberger by 225.5% in the 4th quarter. Narwhal Capital Management now owns 74,645 shares of the oil and gas company’s stock valued at $2,862,000 after purchasing an additional 51,715 shares during the period. Finally, Czech National Bank increased its stake in Schlumberger by 5.8% in the 4th quarter. Czech National Bank now owns 306,183 shares of the oil and gas company’s stock worth $11,739,000 after purchasing an additional 16,914 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Price Performance

NYSE SLB opened at $42.30 on Wednesday. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The stock’s 50-day moving average is $41.27 and its two-hundred day moving average is $41.42. The firm has a market cap of $57.52 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB) last posted its 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 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 analyst estimates of $9.24 billion. During the same period in the previous year, the company earned $0.86 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, analysts anticipate that Schlumberger Limited will post 3.38 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 issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 2.70%. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Wall Street Analyst Weigh In

SLB has been the subject of several recent analyst reports. Wells Fargo & Company decreased their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Stifel Nicolaus decreased their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. JPMorgan Chase & Co. boosted their target price on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. BMO Capital Markets decreased their target price on Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Finally, Evercore ISI reissued an “in-line” rating and set a $44.00 price target (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Insiders Place Their Bets

In related news, VP Ugo Prechner sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares in the company, valued at $496,808. This represents a 38.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction that occurred 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 transaction, the insider now directly owns 235,024 shares in the company, valued at approximately $10,331,655.04. This represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 290,772 shares of company stock valued at $12,546,660 in the last quarter. Insiders own 0.26% of the company’s stock.

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.