Guinness Asset Management LTD Sells 35,884 Shares of Schlumberger Limited (NYSE:SLB)

Guinness Asset Management LTD lessened its position in Schlumberger Limited (NYSE:SLB) by 13.1% in the 4th quarter, Holdings Channel reports. The firm owned 237,982 shares of the oil and gas company’s stock after selling 35,884 shares during the period. Guinness Asset Management LTD’s holdings in Schlumberger were worth $9,093,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SLB. Teachers Retirement System of The State of Kentucky increased its position in shares of Schlumberger by 25.9% in 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 buying an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB increased its holdings in shares of Schlumberger by 27.0% in 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 acquiring an additional 16,350 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Schlumberger by 8.7% in the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after acquiring an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after purchasing an additional 14,376 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of Schlumberger by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after purchasing an additional 11,813 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.26% of the stock is currently owned by insiders.

Schlumberger Price Performance

Shares of NYSE SLB opened at $43.58 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The business’s 50 day moving average price is $40.86 and its two-hundred day moving average price is $42.87. 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 twelve month low of $36.52 and a twelve month high of $55.69.

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 analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9,241,140 billion. During the same period in the previous year, the firm earned $0.86 EPS. The firm’s revenue was up 3.3% compared to the same quarter last year. On average, analysts predict that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Analyst Upgrades and Downgrades

SLB has been the topic of several research analyst reports. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Stifel Nicolaus dropped their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Piper Sandler assumed coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. 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 note on Friday, January 3rd. Finally, Citigroup reduced their price objective on Schlumberger from $53.00 to $50.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. 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 company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.