Schlumberger Limited (NYSE:SLB) Shares Sold by Rathbones Group PLC

Rathbones Group PLC reduced its stake in Schlumberger Limited (NYSE:SLB) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,072,427 shares of the oil and gas company’s stock after selling 52,590 shares during the period. Rathbones Group PLC owned 0.15% of Schlumberger worth $79,457,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. YANKCOM Partnership acquired a new position in shares of Schlumberger during the 4th quarter valued at $31,000. Stonebridge Financial Group LLC bought a new position in Schlumberger during the fourth quarter valued at about $32,000. Golden State Wealth Management LLC acquired a new position in Schlumberger during the fourth quarter worth about $34,000. Hager Investment Management Services LLC bought a new stake in Schlumberger in the fourth quarter worth about $38,000. Finally, Bogart Wealth LLC lifted its holdings in Schlumberger by 468.9% in the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 844 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Activity at Schlumberger

In related news, 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 transaction, the executive vice president now owns 184,626 shares in the company, valued at $8,140,160.34. This trade represents a 40.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were 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 of the company’s stock, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 315,905 shares of company stock valued at $13,609,283. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on SLB shares. Barclays cut their target price on shares of Schlumberger from $54.00 to $53.00 and set an “overweight” rating for the company in a research note on Monday, March 31st. Piper Sandler assumed coverage on Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Wells Fargo & Company cut their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, Citigroup boosted their price objective on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $54.79.

Schlumberger Price Performance

NYSE SLB opened at $34.77 on Monday. The company has a 50 day moving average price of $41.02 and a two-hundred day moving average price of $41.45. Schlumberger Limited has a 12-month low of $32.37 and a 12-month high of $55.65. The stock has a market capitalization of $47.28 billion, a PE ratio of 11.18, a price-to-earnings-growth ratio of 10.10 and a beta of 1.11. 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 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 the consensus estimate of $0.90 by $0.02. The business had revenue of $9.28 billion during 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 quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.86 EPS. As a group, equities 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 was paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th were issued a dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 3.28%. Schlumberger’s dividend payout ratio is currently 36.66%.

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.