Moors & Cabot Inc. Sells 844 Shares of Schlumberger Limited (NYSE:SLB)

Moors & Cabot Inc. reduced its stake in shares of Schlumberger Limited (NYSE:SLB) by 1.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 72,421 shares of the oil and gas company’s stock after selling 844 shares during the period. Moors & Cabot Inc.’s holdings in Schlumberger were worth $2,777,000 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. Prospera Private Wealth LLC bought a new stake in Schlumberger during the 3rd quarter worth approximately $29,000. YANKCOM Partnership bought a new position in shares of Schlumberger in the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC bought a new position in shares of Schlumberger in the fourth quarter valued at approximately $32,000. Ashton Thomas Securities LLC bought a new position in shares of Schlumberger in the third quarter valued at approximately $37,000. Finally, Golden State Wealth Management LLC bought a new position in shares of Schlumberger in the fourth quarter valued at approximately $34,000. 81.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SLB has been the subject of several recent analyst reports. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Stifel Nicolaus reduced their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Finally, Jefferies Financial Group reduced their target price on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Six investment 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Trading Down 0.0 %

NYSE:SLB opened at $40.06 on Thursday. The company has a market cap of $54.48 billion, a P/E ratio of 12.88, a P/E/G ratio of 10.10 and a beta of 1.47. The stock’s fifty day moving average price is $40.87 and its two-hundred day moving average price is $41.56. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business’s quarterly revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.86 earnings per share. As a group, analysts expect 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. Stockholders 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 dividend yield of 2.85%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is presently 36.66%.

Insider Transactions at Schlumberger

In other news, insider Gavin Rennick sold 26,990 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value of $1,104,430.80. Following the transaction, the insider now owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. This represents a 33.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the transaction, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 290,772 shares of company stock valued at $12,546,660. 0.26% of the stock is currently owned by company insiders.

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.