Amalgamated Bank Sells 8,586 Shares of Schlumberger Limited (NYSE:SLB)

Amalgamated Bank trimmed its holdings in Schlumberger Limited (NYSE:SLB) by 3.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 270,921 shares of the oil and gas company’s stock after selling 8,586 shares during the period. Amalgamated Bank’s holdings in Schlumberger were worth $10,387,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of SLB. Vaughan David Investments LLC IL increased its stake in Schlumberger by 5.4% during the 4th quarter. Vaughan David Investments LLC IL now owns 756,502 shares of the oil and gas company’s stock worth $29,004,000 after purchasing an additional 38,534 shares in the last quarter. Brown Financial Advisors boosted its holdings in shares of Schlumberger by 15.4% in the fourth quarter. Brown Financial Advisors now owns 32,245 shares of the oil and gas company’s stock valued at $1,236,000 after buying an additional 4,315 shares during the period. Mengis Capital Management Inc. boosted its holdings in shares of Schlumberger by 20.9% in the fourth quarter. Mengis Capital Management Inc. now owns 102,975 shares of the oil and gas company’s stock valued at $3,948,000 after buying an additional 17,786 shares during the period. Pine Valley Investments Ltd Liability Co bought a new stake in shares of Schlumberger during the fourth quarter worth $226,000. Finally, Skylands Capital LLC acquired a new stake in shares of Schlumberger during the fourth quarter worth $2,946,000. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Trading Down 1.2 %

Schlumberger stock opened at $41.02 on Wednesday. The stock has a 50-day simple moving average of $40.27 and a 200 day simple moving average of $41.86. The stock has a market capitalization of $55.77 billion, a P/E ratio of 13.19, a PEG ratio of 10.10 and a beta of 1.51. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 EPS. Analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a dividend yield of 2.78%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s payout ratio is currently 36.66%.

Insider Activity

In other news, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the transaction, the insider now owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction that occurred on 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 approximately $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 263,782 shares of company stock valued at $11,442,229 over the last ninety days. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

SLB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Piper Sandler began coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, Wells Fargo & Company lowered their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $55.81.

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.