Corient Private Wealth LLC Has $58.22 Million Stock Holdings in Schlumberger Limited (NYSE:SLB)

Corient Private Wealth LLC trimmed its position in Schlumberger Limited (NYSE:SLB) by 24.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,518,535 shares of the oil and gas company’s stock after selling 498,040 shares during the quarter. Corient Private Wealth LLC owned about 0.11% of Schlumberger worth $58,221,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. CX Institutional grew its holdings in Schlumberger by 2.4% during the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock worth $398,000 after acquiring an additional 244 shares during the period. GM Advisory Group LLC boosted its position in shares of Schlumberger by 3.8% in the 3rd 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. TCW Group Inc. grew its stake in shares of Schlumberger by 1.3% during the fourth quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock worth $759,000 after purchasing an additional 259 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its holdings in Schlumberger by 0.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock valued at $2,174,000 after purchasing an additional 262 shares during the last quarter. Finally, Cromwell Holdings LLC lifted its stake in Schlumberger by 7.0% in the fourth quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock valued at $167,000 after buying an additional 283 shares during the period. 81.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SLB. Stifel Nicolaus decreased their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Barclays decreased their price objective on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Citigroup increased their target price on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. TD Cowen boosted their price target on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Price Performance

Shares of NYSE SLB opened at $41.10 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The business has a 50-day moving average of $40.95 and a 200-day moving average of $41.48. The stock has a market capitalization of $55.89 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week 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 for the quarter, topping the consensus estimate of $0.90 by $0.02. The company 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%. Schlumberger’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.86 EPS. As a group, sell-side analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders 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 yield of 2.77%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s payout ratio is 36.66%.

Insider Buying and Selling at Schlumberger

In other news, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the sale, the insider now directly owns 235,024 shares in the company, valued at approximately $10,331,655.04. The trade was a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 value of $309,400.00. Following the sale, the vice president now owns 11,240 shares of the company’s stock, valued at approximately $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock worth $12,546,660 over the last ninety days. 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.