Flputnam Investment Management Co. Sells 5,042 Shares of Schlumberger Limited (NYSE:SLB)

Flputnam Investment Management Co. lowered its stake in Schlumberger Limited (NYSE:SLB) by 7.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 64,168 shares of the oil and gas company’s stock after selling 5,042 shares during the period. Flputnam Investment Management Co.’s holdings in Schlumberger were worth $2,460,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Prospera Private Wealth LLC acquired a new position in shares of Schlumberger in the 3rd quarter valued at approximately $29,000. YANKCOM Partnership bought a new position in Schlumberger in the fourth quarter valued at approximately $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger during the fourth quarter valued at approximately $32,000. Ashton Thomas Securities LLC bought a new stake in Schlumberger during the third quarter worth $37,000. Finally, Golden State Wealth Management LLC acquired a new stake in shares of Schlumberger in the 4th quarter valued at $34,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Trading Up 1.8 %

Shares of SLB stock opened at $41.63 on Friday. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The stock has a 50 day simple moving average of $40.51 and a two-hundred day simple moving average of $41.81. The company has a market cap of $56.61 billion, a P/E ratio of 13.38, a PEG ratio of 10.10 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its earnings results 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. The company had revenue of $9.28 billion for the quarter, compared to the consensus estimate 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 company earned $0.86 EPS. Research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business 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 dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is 36.66%.

Analysts Set New Price Targets

Several brokerages recently weighed in on SLB. Stifel Nicolaus dropped their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Piper Sandler assumed coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. JPMorgan Chase & Co. increased their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Citigroup boosted their target price on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Six 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 company’s stock. Based on data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Insider Activity

In related news, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the transaction, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Dianne B. Ralston sold 43,161 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the sale, the insider now owns 235,024 shares of the company’s stock, valued at $10,331,655.04. This trade represents a 15.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 290,772 shares of company stock worth $12,546,660 in the last three months. Company insiders own 0.26% of the company’s stock.

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.