Townsquare Capital LLC Lowers Holdings in Schlumberger Limited (NYSE:SLB)

Townsquare Capital LLC lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 2.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 36,137 shares of the oil and gas company’s stock after selling 957 shares during the period. Townsquare Capital LLC’s holdings in Schlumberger were worth $1,385,000 at the end of the most recent reporting period.

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

Insider Activity

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the 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 in the company, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the completion of the sale, the executive vice president now owns 184,626 shares in the company, 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. Insiders sold a total of 315,905 shares of company stock worth $13,609,283 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on SLB. Piper Sandler initiated coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Susquehanna cut their target price on shares of Schlumberger from $55.00 to $48.00 and set a “positive” rating for the company in a research report on Monday. Citigroup increased their price target on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Finally, Evercore ISI restated an “in-line” rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.15.

Schlumberger Trading Up 2.8 %

Shares of SLB opened at $35.09 on Friday. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $51.77. The company has a 50 day simple moving average of $39.48 and a two-hundred day simple moving average of $40.83. 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 cap of $47.72 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results 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. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. During the same period in the previous year, the firm posted $0.86 EPS. Schlumberger’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

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.