Schlumberger Limited (NYSE:SLB) Stake Lowered by Lindbrook Capital LLC

Lindbrook Capital LLC decreased its stake in Schlumberger Limited (NYSE:SLB) by 23.9% during the 4th quarter, HoldingsChannel reports. The firm owned 3,990 shares of the oil and gas company’s stock after selling 1,253 shares during the period. Lindbrook Capital LLC’s holdings in Schlumberger were worth $208,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Highland Capital Management LLC boosted its holdings in shares of Schlumberger by 2,494.0% during the fourth quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock valued at $5,278,000 after acquiring an additional 97,516 shares during the period. Guinness Asset Management LTD boosted its stake in Schlumberger by 0.3% during the 3rd quarter. Guinness Asset Management LTD now owns 331,309 shares of the oil and gas company’s stock valued at $19,468,000 after purchasing an additional 965 shares during the period. Nordea Investment Management AB grew its position in Schlumberger by 36.4% in the 4th quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock worth $74,080,000 after purchasing an additional 380,185 shares during the last quarter. Allworth Financial LP increased its stake in shares of Schlumberger by 3.8% in the third quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock valued at $324,000 after purchasing an additional 206 shares during the period. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Schlumberger by 6.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock valued at $31,726,000 after buying an additional 35,763 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Trading Down 0.7 %

Schlumberger stock opened at $49.52 on Tuesday. Schlumberger Limited has a 52 week low of $42.73 and a 52 week high of $62.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The firm has a market capitalization of $70.68 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 0.95 and a beta of 1.60. The company has a 50 day moving average price of $51.64 and a 200 day moving average price of $52.32.

Schlumberger (NYSE:SLB) last issued its 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. The business had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. Schlumberger’s revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.63 earnings per share. Research analysts forecast that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, June 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.22%. Schlumberger’s dividend payout ratio is 36.54%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SLB. Stifel Nicolaus reissued a “buy” rating and issued a $64.00 price objective on shares of Schlumberger in a report on Monday. Susquehanna reissued a “positive” rating and set a $77.00 price target on shares of Schlumberger in a report on Monday. HSBC reaffirmed a “buy” rating and issued a $71.00 price objective on shares of Schlumberger in a report on Thursday, April 4th. The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Finally, Barclays dropped their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. One investment analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. Based on data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $69.67.

Insider Buying and Selling

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.78, for a total value 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction 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 transaction, the chief financial officer now owns 249,182 shares in the company, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 133,621 shares of company stock worth $6,691,623. Corporate insiders own 0.26% of the company’s stock.

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.