Griffin Asset Management Inc. Sells 3,095 Shares of Schlumberger Limited (NYSE:SLB)

Griffin Asset Management Inc. reduced its holdings in shares of Schlumberger Limited (NYSE:SLB) by 4.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 71,035 shares of the oil and gas company’s stock after selling 3,095 shares during the quarter. Griffin Asset Management Inc.’s holdings in Schlumberger were worth $2,723,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its position in Schlumberger by 26.4% during the second quarter. AQR Capital Management LLC now owns 557,533 shares of the oil and gas company’s stock worth $26,210,000 after acquiring an additional 116,284 shares during the last quarter. APG Asset Management N.V. increased its stake in shares of Schlumberger by 8.4% during the second quarter. APG Asset Management N.V. now owns 150,796 shares of the oil and gas company’s stock worth $6,638,000 after purchasing an additional 11,735 shares during the period. Ascent Group LLC lifted its holdings in Schlumberger by 7.7% during the 2nd quarter. Ascent Group LLC now owns 20,544 shares of the oil and gas company’s stock worth $969,000 after purchasing an additional 1,469 shares during the last quarter. Creative Planning grew its holdings in Schlumberger by 51.2% in the 2nd quarter. Creative Planning now owns 263,407 shares of the oil and gas company’s stock valued at $12,428,000 after buying an additional 89,226 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its position in Schlumberger by 89.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 132,062 shares of the oil and gas company’s stock worth $6,231,000 after buying an additional 62,466 shares during the period. 81.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction on 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 sale, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 198,258 shares of company stock valued at $8,732,604 over the last 90 days. 0.26% of the stock is owned by insiders.

Schlumberger Trading Up 0.7 %

Shares of SLB stock opened at $42.55 on Tuesday. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $60.08 billion, a P/E ratio of 13.68, a P/E/G ratio of 9.98 and a beta of 1.52. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The stock’s fifty day simple moving average is $40.74 and its 200 day simple moving average is $42.72.

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 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 company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9,241,140 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The firm’s revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that Schlumberger Limited will post 3.34 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.68%. The ex-dividend date is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is 35.37%.

Wall Street Analyst Weigh In

SLB has been the topic of several research reports. TD Cowen upped their price target on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Stifel Nicolaus lowered their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Citigroup boosted their price target on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Piper Sandler started coverage on Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective on the stock. Finally, Evercore ISI reiterated an “in-line” rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $55.81.

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.