Rockefeller Capital Management L.P. Reduces Stock Holdings in Schlumberger Limited (NYSE:SLB)

Rockefeller Capital Management L.P. cut its holdings in Schlumberger Limited (NYSE:SLB) by 46.5% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 221,951 shares of the oil and gas company’s stock after selling 192,667 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Schlumberger were worth $8,526,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Heritage Trust Co acquired a new stake in Schlumberger in the 4th quarter worth approximately $234,000. Argent Trust Co raised its holdings in shares of Schlumberger by 3.1% in the fourth quarter. Argent Trust Co now owns 86,355 shares of the oil and gas company’s stock worth $3,311,000 after buying an additional 2,607 shares during the last quarter. LSV Asset Management acquired a new stake in shares of Schlumberger during the fourth quarter worth $479,000. F M Investments LLC grew its holdings in shares of Schlumberger by 9.9% during the fourth quarter. F M Investments LLC now owns 113,223 shares of the oil and gas company’s stock valued at $4,341,000 after buying an additional 10,192 shares during the last quarter. Finally, CenterBook Partners LP increased its position in shares of Schlumberger by 91.6% in the 4th quarter. CenterBook Partners LP now owns 47,724 shares of the oil and gas company’s stock valued at $1,830,000 after acquiring an additional 22,814 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the sale, the executive vice president now owns 210,502 shares of the company’s stock, valued at $8,723,202.88. This represents a 22.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Dianne B. Ralston sold 43,161 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the transaction, the insider now directly owns 235,024 shares in the company, valued at approximately $10,331,655.04. This represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 315,905 shares of company stock worth $13,609,283. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Performance

SLB opened at $34.13 on Thursday. The firm’s fifty day simple moving average is $39.60 and its two-hundred day simple moving average is $40.88. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $51.96. The company has a market cap of $46.41 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 10.10 and a beta of 1.11. 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 issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $9.24 billion. During the same period last year, the company posted $0.86 EPS. Schlumberger’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th were paid a $0.285 dividend. The ex-dividend date was 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 3.34%. Schlumberger’s payout ratio is currently 36.66%.

Analyst Upgrades and Downgrades

SLB has been the subject of several research analyst reports. Citigroup raised their price objective on 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 decreased their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. 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. Piper Sandler initiated coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price for the company. Finally, TD Cowen increased their price target on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $54.15.

Schlumberger Company 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.