Lockheed Martin Investment Management Co. Lowers Stake in Schlumberger Limited (NYSE:SLB)

Lockheed Martin Investment Management Co. cut its stake in Schlumberger Limited (NYSE:SLB) by 45.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 39,930 shares of the oil and gas company’s stock after selling 33,180 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Schlumberger were worth $1,531,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in SLB. Grove Bank & Trust boosted its holdings in shares of Schlumberger by 17.4% in the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after buying an additional 224 shares in the last quarter. CX Institutional boosted its stake in Schlumberger by 2.4% in the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock valued at $398,000 after acquiring an additional 244 shares in the last quarter. GM Advisory Group LLC grew its holdings in Schlumberger by 3.8% in the third quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock worth $281,000 after purchasing an additional 247 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Schlumberger by 0.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock worth $2,174,000 after purchasing an additional 262 shares in the last quarter. Finally, Cordatus Wealth Management LLC lifted its holdings in shares of Schlumberger by 2.1% during the 3rd quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock valued at $561,000 after purchasing an additional 281 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Activity at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now owns 49,595 shares in the company, valued at $2,179,204.30. This represents a 33.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction dated Friday, January 31st. The shares were 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 263,782 shares of company stock worth $11,442,229. Company insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 2.7 %

Shares of SLB opened at $41.23 on Wednesday. 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 firm has a market capitalization of $57.76 billion, a P/E ratio of 13.26, a P/E/G ratio of 9.55 and a beta of 1.51. The firm has a 50-day moving average price of $40.42 and a 200 day moving average price of $42.43. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.86 EPS. Sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently disclosed 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. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.76%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Analysts Set New Price Targets

SLB has been the topic of several recent analyst reports. Barclays reduced their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Piper Sandler started coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. Evercore ISI reissued an “in-line” rating and set a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Bank of America decreased their price target on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Susquehanna dropped their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Six 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Company 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.