DnB Asset Management AS Trims Stock Holdings in Schlumberger Limited (NYSE:SLB)

DnB Asset Management AS decreased its position in Schlumberger Limited (NYSE:SLB) by 8.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,259,458 shares of the oil and gas company’s stock after selling 117,498 shares during the quarter. DnB Asset Management AS owned about 0.09% of Schlumberger worth $48,288,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SLB. Penserra Capital Management LLC grew its stake in Schlumberger by 9,041.9% in the 3rd quarter. Penserra Capital Management LLC now owns 10,696 shares of the oil and gas company’s stock worth $448,000 after acquiring an additional 10,579 shares during the period. Private Trust Co. NA grew its position in shares of Schlumberger by 23.8% in the third quarter. Private Trust Co. NA now owns 2,281 shares of the oil and gas company’s stock valued at $96,000 after purchasing an additional 439 shares during the period. The Manufacturers Life Insurance Company increased its stake in Schlumberger by 2.0% in the third quarter. The Manufacturers Life Insurance Company now owns 1,215,726 shares of the oil and gas company’s stock valued at $51,000,000 after purchasing an additional 24,377 shares during the last quarter. D.A. Davidson & CO. grew its holdings in Schlumberger by 24.9% in the 3rd quarter. D.A. Davidson & CO. now owns 127,053 shares of the oil and gas company’s stock valued at $5,330,000 after buying an additional 25,368 shares during the period. Finally, Avestar Capital LLC increased its stake in shares of Schlumberger by 12.1% during the 3rd quarter. Avestar Capital LLC now owns 6,192 shares of the oil and gas company’s stock valued at $260,000 after acquiring an additional 670 shares during the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Stock Down 0.7 %

SLB stock opened at $42.14 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The firm has a 50 day simple moving average of $41.32 and a 200-day simple moving average of $41.43. The company has a market capitalization of $57.31 billion, a P/E ratio of 13.55, a PEG ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share 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 analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the business earned $0.86 EPS. On average, equities research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a $0.285 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.71%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s payout ratio is currently 36.66%.

Insider Buying and Selling at Schlumberger

In related 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 transaction of $223,224.84. Following the sale, the insider now directly owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The stock was 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 directly owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 290,772 shares of company stock worth $12,546,660 over the last quarter. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SLB. TD Cowen boosted their target price on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Stifel Nicolaus dropped their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Citigroup lifted their target price on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Jefferies Financial Group decreased their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Thursday. Six investment 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.69.

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.