Schlumberger Limited (NYSE:SLB) Shares Sold by Pitcairn Co.

Pitcairn Co. lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 1.4% during the 4th quarter, HoldingsChannel reports. The firm owned 24,311 shares of the oil and gas company’s stock after selling 355 shares during the period. Pitcairn Co.’s holdings in Schlumberger were worth $932,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. YANKCOM Partnership acquired a new stake in shares of Schlumberger in the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Schlumberger in the 4th quarter worth $32,000. Golden State Wealth Management LLC purchased a new position in shares of Schlumberger during the 4th quarter worth $34,000. Hager Investment Management Services LLC acquired a new position in shares of Schlumberger during the 4th quarter valued at about $38,000. Finally, Bogart Wealth LLC grew its holdings in shares of Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 844 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

SLB stock opened at $34.77 on Friday. The business’s 50-day moving average is $41.02 and its two-hundred day moving average is $41.45. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm has a market capitalization of $47.28 billion, a P/E ratio of 11.18, a P/E/G ratio of 10.10 and a beta of 1.11. Schlumberger Limited has a 1 year low of $34.04 and a 1 year high of $55.65.

Schlumberger (NYSE:SLB) last issued its 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. 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 company earned $0.86 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. 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 was paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th were paid a dividend of $0.285 per share. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.28%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is presently 36.66%.

Insider Activity at Schlumberger

In related news, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was 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 $496,808. This represents a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the sale, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 315,905 shares of company stock valued at $13,609,283 over the last quarter. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

SLB has been the topic of several recent analyst reports. Barclays decreased their target price on shares of Schlumberger from $54.00 to $53.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. Wells Fargo & Company lowered their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Citigroup lifted their target price on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Stifel Nicolaus lowered their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $54.79.

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.