Schlumberger Limited (NYSE:SLB) Position Cut by Glenview Trust co

Glenview Trust co lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 3.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 54,437 shares of the oil and gas company’s stock after selling 1,835 shares during the period. Glenview Trust co’s holdings in Schlumberger were worth $2,087,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of SLB. Victory Capital Management Inc. raised its holdings in shares of Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after buying an additional 65,318 shares during the last quarter. Oppenheimer Asset Management Inc. raised its stake in Schlumberger by 11.1% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 6,816 shares of the oil and gas company’s stock valued at $286,000 after acquiring an additional 683 shares in the last quarter. OneDigital Investment Advisors LLC boosted its position in Schlumberger by 0.7% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 40,715 shares of the oil and gas company’s stock worth $1,708,000 after acquiring an additional 284 shares during the period. CIBC Asset Management Inc increased its holdings in shares of Schlumberger by 7.3% during the third quarter. CIBC Asset Management Inc now owns 221,136 shares of the oil and gas company’s stock valued at $9,277,000 after purchasing an additional 15,010 shares during the period. Finally, Alpha Family Trust acquired a new position in shares of Schlumberger during the third quarter valued at $286,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Up 2.9 %

SLB stock opened at $41.10 on Monday. The company has a 50 day moving average of $40.95 and a two-hundred day moving average of $41.48. The company has a market cap of $55.89 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. 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 released its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 earnings per share. On average, equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 2.77%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio is presently 36.66%.

Analyst Upgrades and Downgrades

Several research firms have commented on SLB. Jefferies Financial Group lowered their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. BMO Capital Markets dropped their target price on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Evercore ISI restated an “in-line” rating and issued a $44.00 target price (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Wells Fargo & Company lowered their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Finally, Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the transaction, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. The trade was a 33.51 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the sale, the vice president now directly owns 11,240 shares in the company, valued at $496,808. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock worth $12,546,660 over the last three months. Corporate insiders own 0.26% of the company’s stock.

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.