Concurrent Investment Advisors LLC Sells 7,645 Shares of Schlumberger Limited (NYSE:SLB)

Concurrent Investment Advisors LLC trimmed its position in Schlumberger Limited (NYSE:SLB) by 38.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,073 shares of the oil and gas company’s stock after selling 7,645 shares during the period. Concurrent Investment Advisors LLC’s holdings in Schlumberger were worth $463,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Prospera Private Wealth LLC bought a new position in Schlumberger in the 3rd quarter valued at $29,000. YANKCOM Partnership bought a new stake in shares of Schlumberger during the 4th quarter worth $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Schlumberger during the 4th quarter worth $32,000. Golden State Wealth Management LLC bought a new stake in shares of Schlumberger during the 4th quarter worth $34,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Schlumberger during the 3rd quarter worth $37,000. 81.99% of the stock is owned by institutional investors.

Insider Activity at Schlumberger

In related news, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the transaction, the director now owns 49,595 shares in the company, valued at $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the transaction, the executive vice president now owns 210,502 shares in the company, valued at $8,723,202.88. This represents a 22.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 263,782 shares of company stock worth $11,442,229 over the last 90 days. 0.26% of the stock is owned by company insiders.

Schlumberger Price Performance

SLB stock opened at $41.51 on Tuesday. The firm’s 50-day moving average price is $40.23 and its two-hundred day moving average price is $41.87. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The stock has a market capitalization of $56.45 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 10.10 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 (NYSE:SLB) last released its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current 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 given a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.75%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is currently 36.66%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BMO Capital Markets dropped their price objective on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Stifel Nicolaus dropped their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $55.81.

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.