Moran Wealth Management LLC Trims Holdings in Schlumberger Limited (NYSE:SLB)

Moran Wealth Management LLC trimmed its stake in shares of Schlumberger Limited (NYSE:SLB) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 307,130 shares of the oil and gas company’s stock after selling 1,766 shares during the quarter. Moran Wealth Management LLC’s holdings in Schlumberger were worth $11,775,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. increased its position in shares of Schlumberger by 12,289.6% during the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after buying an additional 12,938,082 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after purchasing an additional 1,916,851 shares in the last quarter. Scharf Investments LLC purchased a new stake in Schlumberger in the 4th quarter worth approximately $52,607,000. OFI Invest Asset Management bought a new position in Schlumberger in the 4th quarter valued at $48,461,000. Finally, AMF Tjanstepension AB grew its position in shares of Schlumberger by 273.3% during the 4th quarter. AMF Tjanstepension AB now owns 1,338,376 shares of the oil and gas company’s stock valued at $51,384,000 after purchasing an additional 979,820 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Up 4.0 %

Shares of NYSE:SLB opened at $41.36 on Monday. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. 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 stock’s 50-day moving average price is $40.73 and its 200-day moving average price is $41.63. The stock has a market capitalization of $56.25 billion, a P/E ratio of 13.30, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47.

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

Schlumberger Increases Dividend

The company 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 dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio is currently 36.66%.

Analysts Set New Price Targets

A number of brokerages recently issued reports on SLB. JPMorgan Chase & Co. increased their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. TD Cowen raised their price target on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Piper Sandler initiated coverage on shares of Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective on the stock. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Insider Activity at Schlumberger

In other news, Director Vijay Kasibhatla sold 25,000 shares of the company’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 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the sale, the vice president now owns 11,240 shares of the company’s stock, valued at approximately $496,808. This represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock worth $12,546,660 in the last three months. 0.26% of the stock is owned by insiders.

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.