OVERSEA CHINESE BANKING Corp Ltd Sells 3,929 Shares of Schlumberger Limited (NYSE:SLB)

OVERSEA CHINESE BANKING Corp Ltd decreased its position in Schlumberger Limited (NYSE:SLB) by 35.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,237 shares of the oil and gas company’s stock after selling 3,929 shares during the quarter. OVERSEA CHINESE BANKING Corp Ltd’s holdings in Schlumberger were worth $377,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SLB. Acadian Asset Management LLC bought a new position in Schlumberger in the first quarter worth about $25,000. Cetera Investment Advisers grew its position in Schlumberger by 35.3% in the 1st quarter. Cetera Investment Advisers now owns 39,287 shares of the oil and gas company’s stock worth $1,623,000 after purchasing an additional 10,240 shares during the period. Dakota Wealth Management bought a new stake in shares of Schlumberger in the first quarter worth $232,000. Sequoia Financial Advisors LLC purchased a new stake in shares of Schlumberger during the 1st quarter valued at about $419,000. Finally, Baird Financial Group Inc. grew its position in Schlumberger by 2.9% during the first quarter. Baird Financial Group Inc. now owns 112,003 shares of the oil and gas company’s stock valued at $4,627,000 after buying an additional 3,209 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SLB. Royal Bank of Canada increased their price target on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. HSBC restated a “buy” rating and issued a $71.00 price target on shares of Schlumberger in a research report on Thursday, April 4th. Bank of America boosted their price objective on Schlumberger from $62.00 to $63.00 and gave the company a “buy” rating in a research note on Monday, April 15th. Finally, Susquehanna restated a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research note on Monday, April 8th. One analyst has rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $70.31.

Insider Activity at Schlumberger

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total transaction of $329,875.00. Following the transaction, the chief financial officer now owns 249,182 shares in the company, valued at $13,151,825.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 249,182 shares in the company, valued at $13,151,825.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Howard Guild sold 22,853 shares of the company’s stock in a transaction that occurred on Wednesday, January 24th. The shares were sold at an average price of $51.66, for a total value of $1,180,585.98. Following the transaction, the chief accounting officer now directly owns 22,181 shares in the company, valued at approximately $1,145,870.46. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 172,191 shares of company stock worth $8,636,322. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

Shares of NYSE:SLB opened at $49.85 on Monday. The firm has a fifty day simple moving average of $51.62 and a two-hundred day simple moving average of $52.36. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $71.16 billion, a P/E ratio of 16.56, a PEG ratio of 0.95 and a beta of 1.60. Schlumberger Limited has a 52 week low of $42.73 and a 52 week high of $62.12.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. During the same quarter last year, the business posted $0.63 earnings per share. The firm’s revenue was up 12.6% on a year-over-year basis. On average, analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.21%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is currently 36.54%.

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.