New York Life Investment Management LLC Sells 529 Shares of Schlumberger Limited (NYSE:SLB)

New York Life Investment Management LLC cut its stake in shares of Schlumberger Limited (NYSE:SLB) by 0.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 209,956 shares of the oil and gas company’s stock after selling 529 shares during the quarter. New York Life Investment Management LLC’s holdings in Schlumberger were worth $8,050,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Prospera Private Wealth LLC acquired a new position in shares of Schlumberger during the third quarter worth $29,000. YANKCOM Partnership acquired a new position in Schlumberger in the 4th quarter worth about $31,000. Stonebridge Financial Group LLC bought a new position in Schlumberger in the fourth quarter valued at about $32,000. Golden State Wealth Management LLC acquired a new stake in shares of Schlumberger during the fourth quarter valued at about $34,000. Finally, Ashton Thomas Securities LLC bought a new stake in shares of Schlumberger during the third quarter worth about $37,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction 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 transaction, the vice president now owns 11,240 shares in the company, valued at approximately $496,808. This represents a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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 transaction of $223,224.84. Following the transaction, the insider now owns 30,829 shares of the company’s stock, valued at $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 290,772 shares of company stock valued at $12,546,660. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on SLB shares. Piper Sandler initiated coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. BMO Capital Markets cut their price target on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Evercore ISI restated an “in-line” rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Finally, JPMorgan Chase & Co. lifted their target price on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Stock Performance

NYSE:SLB opened at $40.86 on Friday. The firm has a market capitalization of $55.56 billion, a P/E ratio of 13.14, a P/E/G ratio of 10.10 and a beta of 1.51. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The company has a fifty day moving average of $40.41 and a 200-day moving average of $41.84. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share 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 quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.86 earnings per share. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.79%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is presently 36.66%.

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.