Wellington Management Group LLP Sells 1,544,027 Shares of Schlumberger Limited (NYSE:SLB)

Wellington Management Group LLP cut its holdings in shares of Schlumberger Limited (NYSE:SLB) by 10.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 12,839,971 shares of the oil and gas company’s stock after selling 1,544,027 shares during the period. Wellington Management Group LLP’s holdings in Schlumberger were worth $492,284,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Teachers Retirement System of The State of Kentucky raised 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 worth $31,961,000 after acquiring an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB raised its holdings in 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 purchasing an additional 16,350 shares in the last quarter. Bryn Mawr Capital Management LLC lifted its position 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 buying an additional 165,162 shares during the last quarter. Narwhal Capital Management boosted its holdings 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 buying an additional 51,715 shares in the last quarter. Finally, Czech National Bank grew its position in shares of 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 buying an additional 16,914 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In related news, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the sale, the insider now owns 235,024 shares of the company’s stock, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. This represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 290,772 shares of company stock valued at $12,546,660. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

NYSE SLB opened at $41.83 on Tuesday. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.65. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The firm has a market capitalization of $56.89 billion, a P/E ratio of 13.45, a PEG ratio of 10.10 and a beta of 1.47. The stock has a 50-day simple moving average of $41.25 and a two-hundred day simple moving average of $41.48.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The company 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%. Schlumberger’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period last year, the business earned $0.86 earnings per share. On average, equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.73%. Schlumberger’s dividend payout ratio is 36.66%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on SLB shares. Wells Fargo & Company lowered their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Royal Bank of Canada restated an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. Piper Sandler initiated coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Finally, Stifel Nicolaus cut 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. Six investment 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. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.69.

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.