Schlumberger Limited (NYSE:SLB) Position Cut by BTC Capital Management Inc.

BTC Capital Management Inc. decreased its position in shares of Schlumberger Limited (NYSE:SLB) by 22.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,611 shares of the oil and gas company’s stock after selling 2,522 shares during the quarter. BTC Capital Management Inc.’s holdings in Schlumberger were worth $330,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. State Street Corp increased its stake in shares of Schlumberger by 0.6% in the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after purchasing an additional 528,279 shares during the period. Geode Capital Management LLC grew its holdings in Schlumberger by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock worth $1,195,290,000 after buying an additional 239,966 shares in the last quarter. Pacer Advisors Inc. increased its position in Schlumberger by 12,289.6% in the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after acquiring an additional 12,938,082 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Schlumberger by 20.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after acquiring an additional 1,916,851 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Schlumberger by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock worth $335,214,000 after acquiring an additional 31,718 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Activity at Schlumberger

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the transaction, the vice president now owns 11,240 shares in the company, valued at $496,808. The trade was 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 the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the sale, the director now directly owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 263,782 shares of company stock valued at $11,442,229. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of research analyst reports. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Bank of America dropped their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, October 14th. JPMorgan Chase & Co. increased their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Wells Fargo & Company dropped their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Finally, TD Cowen increased their price target on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $40.21 on Friday. The company’s fifty day moving average is $40.58 and its two-hundred day moving average is $42.63. The company has a market cap of $56.32 billion, a P/E ratio of 12.93, a price-to-earnings-growth ratio of 9.70 and a beta of 1.52. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. 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 posted its quarterly 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 return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same period in the previous year, the firm earned $0.86 earnings per share. Schlumberger’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.84%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

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.