Tobam Sells 58,363 Shares of Schlumberger Limited (NYSE:SLB)

Tobam lessened its stake in shares of Schlumberger Limited (NYSE:SLB) by 91.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,617 shares of the oil and gas company’s stock after selling 58,363 shares during the period. Tobam’s holdings in Schlumberger were worth $215,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Dynamic Advisor Solutions LLC raised its position in Schlumberger by 7.2% during the 3rd quarter. Dynamic Advisor Solutions LLC now owns 10,365 shares of the oil and gas company’s stock valued at $435,000 after purchasing an additional 696 shares in the last quarter. Atomi Financial Group Inc. increased its stake in shares of Schlumberger by 49.8% during the third quarter. Atomi Financial Group Inc. now owns 11,755 shares of the oil and gas company’s stock valued at $493,000 after buying an additional 3,908 shares during the period. Hexagon Capital Partners LLC raised its holdings in shares of Schlumberger by 44.9% in the third quarter. Hexagon Capital Partners LLC now owns 6,422 shares of the oil and gas company’s stock valued at $269,000 after acquiring an additional 1,990 shares in the last quarter. Perpetual Ltd lifted its stake in Schlumberger by 5.5% in the third quarter. Perpetual Ltd now owns 39,419 shares of the oil and gas company’s stock worth $1,654,000 after acquiring an additional 2,044 shares during the period. Finally, Independence Bank of Kentucky grew its holdings in Schlumberger by 4.3% during the 3rd quarter. Independence Bank of Kentucky now owns 22,010 shares of the oil and gas company’s stock worth $923,000 after acquiring an additional 916 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In other news, insider Bejar Carmen Rando sold 5,524 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the transaction, the insider now owns 30,829 shares of the company’s stock, valued at $1,245,799.89. The trade was a 15.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the sale, the executive vice president now directly owns 210,502 shares in the company, valued at approximately $8,723,202.88. This trade represents a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 263,782 shares of company stock valued at $11,442,229. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

SLB has been the subject of several recent research reports. Piper Sandler began coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Barclays lowered their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Stifel Nicolaus dropped their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Finally, Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Trading Up 0.3 %

NYSE:SLB opened at $40.15 on Friday. The company has a market capitalization of $56.25 billion, a P/E ratio of 12.91, a PEG ratio of 9.55 and a beta of 1.51. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The firm has a fifty day simple moving average of $40.25 and a 200-day simple moving average of $42.35.

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

Schlumberger Increases Dividend

The firm 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 $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 2.84%. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is 35.37%.

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.