SVB Wealth LLC Sells 28,147 Shares of Schlumberger Limited (NYSE:SLB)

SVB Wealth LLC cut its holdings in shares of Schlumberger Limited (NYSE:SLB) by 15.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 152,302 shares of the oil and gas company’s stock after selling 28,147 shares during the period. SVB Wealth LLC’s holdings in Schlumberger were worth $7,926,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SLB. Landmark Financial Advisors LLC grew its holdings in Schlumberger by 3.6% during the 3rd quarter. Landmark Financial Advisors LLC now owns 4,838 shares of the oil and gas company’s stock worth $282,000 after acquiring an additional 170 shares during the period. Investment Advisory Services Inc. TX ADV boosted its position in shares of Schlumberger by 1.4% during the 3rd quarter. Investment Advisory Services Inc. TX ADV now owns 11,968 shares of the oil and gas company’s stock worth $698,000 after purchasing an additional 171 shares in the last quarter. Miller Howard Investments Inc. NY boosted its position in shares of Schlumberger by 0.5% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 32,845 shares of the oil and gas company’s stock worth $1,915,000 after purchasing an additional 176 shares in the last quarter. Stonegate Investment Group LLC boosted its position in shares of Schlumberger by 1.7% during the 3rd quarter. Stonegate Investment Group LLC now owns 10,864 shares of the oil and gas company’s stock worth $633,000 after purchasing an additional 177 shares in the last quarter. Finally, CI Investments Inc. boosted its position in shares of Schlumberger by 4.9% during the 3rd quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock worth $241,000 after purchasing an additional 192 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Schlumberger news, insider Gavin Rennick sold 20,045 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $48.77, for a total value of $977,594.65. Following the completion of the transaction, the insider now directly owns 77,563 shares of the company’s stock, valued at approximately $3,782,747.51. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders sold a total of 172,191 shares of company stock worth $8,636,322 in the last quarter. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 0.5 %

NYSE:SLB opened at $51.41 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.32. The firm has a market cap of $73.38 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 0.93 and a beta of 1.60. Schlumberger Limited has a 52 week low of $42.73 and a 52 week high of $62.12. The firm has a 50-day moving average price of $51.43 and a two-hundred day moving average price of $52.51.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.02. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The company had revenue of $8.99 billion during the quarter, compared to analyst estimates of $8.96 billion. During the same quarter last year, the business posted $0.71 EPS. Schlumberger’s quarterly revenue was up 14.1% compared to the same quarter last year. On average, equities analysts expect that Schlumberger Limited will post 3.52 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Wednesday, February 7th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.95%. Schlumberger’s payout ratio is currently 34.25%.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of research analyst reports. Benchmark reissued a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research report on Wednesday, April 3rd. Wells Fargo & Company increased their price objective on shares of Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, January 22nd. Bank of America increased their price objective on shares of Schlumberger from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday. Stifel Nicolaus raised their price target on shares of Schlumberger from $63.00 to $64.00 and gave the company a “buy” rating in a research report on Monday, January 22nd. Finally, Barclays dropped their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $70.31.

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.