TCTC Holdings LLC Reduces Stock Position in Schlumberger Limited (NYSE:SLB)

TCTC Holdings LLC lessened its stake in shares of Schlumberger Limited (NYSE:SLB) by 1.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 37,089 shares of the oil and gas company’s stock after selling 359 shares during the quarter. TCTC Holdings LLC’s holdings in Schlumberger were worth $1,422,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the stock. State Street Corp boosted its holdings in shares of Schlumberger by 0.6% during the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after acquiring an additional 528,279 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Schlumberger by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock worth $1,195,290,000 after purchasing an additional 239,966 shares during the period. First Eagle Investment Management LLC lifted its stake in shares of Schlumberger by 1.2% in the 4th quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company’s stock worth $1,067,254,000 after purchasing an additional 343,261 shares during the period. Pacer Advisors Inc. lifted its stake in shares of Schlumberger by 12,289.6% in the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock worth $500,082,000 after purchasing an additional 12,938,082 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after purchasing an additional 1,916,851 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 2.9 %

Schlumberger stock opened at $41.10 on Monday. The stock has a market cap of $55.89 billion, a P/E ratio of 13.21, a PEG 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 Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The firm’s 50 day moving average price is $40.95 and its 200-day moving average price is $41.48.

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 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 analysts’ expectations of $9.24 billion. During the same quarter last year, the business posted $0.86 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts predict 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. Investors of record on Wednesday, February 5th will be issued 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 2.77%. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Analyst Ratings Changes

Several brokerages have recently weighed in on SLB. Citigroup increased their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Jefferies Financial Group lowered their price objective 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. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Finally, 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 price objective on the stock. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.81.

Insider Activity at Schlumberger

In related news, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 11,240 shares of the company’s stock, valued at approximately $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the completion of the transaction, the executive vice president now directly owns 184,626 shares of the company’s stock, valued at approximately $8,140,160.34. This trade represents a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 290,772 shares of company stock valued at $12,546,660. 0.26% of the stock is owned by corporate insiders.

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.