Schlumberger Limited (NYSE:SLB) Shares Sold by RNC Capital Management LLC

RNC Capital Management LLC lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 43.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,471 shares of the oil and gas company’s stock after selling 23,332 shares during the quarter. RNC Capital Management LLC’s holdings in Schlumberger were worth $1,168,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tandem Financial LLC acquired a new position in Schlumberger in the fourth quarter worth approximately $77,000. Strategic Financial Concepts LLC bought a new position in Schlumberger during the fourth quarter valued at approximately $1,815,000. Oakworth Capital Inc. grew its holdings in Schlumberger by 20.0% during the fourth quarter. Oakworth Capital Inc. now owns 2,276 shares of the oil and gas company’s stock valued at $87,000 after purchasing an additional 380 shares during the last quarter. YANKCOM Partnership acquired a new position in Schlumberger during the fourth quarter valued at approximately $31,000. Finally, Tyche Wealth Partners LLC bought a new position in Schlumberger in the 4th quarter worth approximately $274,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on SLB shares. TD Cowen upped their price target on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Piper Sandler initiated coverage on Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target for the company. Barclays lowered their price objective on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Susquehanna lowered their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Stock Down 1.8 %

SLB stock opened at $40.07 on Friday. 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 business has a 50 day moving average price of $40.32 and a two-hundred day moving average price of $42.36. The company has a market cap of $56.13 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 9.55 and a beta of 1.51. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69.

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 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 analysts’ expectations of $9.24 billion. During the same period last year, the firm posted $0.86 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. Analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.85%. This is a boost 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%.

Insider Activity

In related news, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the transaction, the executive vice president now directly owns 184,626 shares of the company’s stock, valued at $8,140,160.34. This represents a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock valued at $11,442,229 over the last three months. Insiders own 0.26% of the company’s stock.

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.