Shell Asset Management Co. Sells 22,663 Shares of Schlumberger Limited (NYSE:SLB)

Shell Asset Management Co. lowered its holdings in shares of Schlumberger Limited (NYSE:SLB) by 34.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,609 shares of the oil and gas company’s stock after selling 22,663 shares during the quarter. Shell Asset Management Co.’s holdings in Schlumberger were worth $1,672,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. YANKCOM Partnership bought a new position in shares of Schlumberger during the 4th quarter valued at $31,000. Stonebridge Financial Group LLC bought a new position in shares of Schlumberger during the 4th quarter valued at $32,000. Golden State Wealth Management LLC bought a new position in shares of Schlumberger during the 4th quarter valued at $34,000. Hager Investment Management Services LLC bought a new position in shares of Schlumberger during the 4th quarter valued at $38,000. Finally, Bogart Wealth LLC raised its holdings in shares of Schlumberger by 468.9% during the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 844 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SLB. Citigroup raised their target price on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Susquehanna lowered their target price on shares of Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a research note on Monday, April 28th. Stifel Nicolaus lowered their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, April 28th. Piper Sandler lowered their target price on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $52.44.

Insider Activity at Schlumberger

In related news, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the sale, the insider now owns 31,031 shares of the company’s stock, valued at $1,311,990.68. The trade was a 44.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the transaction, the insider now owns 53,584 shares in the company, valued at approximately $2,192,657.28. This trade represents a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Performance

NYSE SLB opened at $35.74 on Friday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company’s fifty day moving average is $36.74 and its two-hundred day moving average is $39.57. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The firm has a market capitalization of $48.61 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts’ consensus estimates of $0.73 by ($0.01). The business had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business’s revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.75 EPS. Equities research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be paid a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.19%. Schlumberger’s payout ratio is currently 38.64%.

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.