Schlumberger Limited (NYSE:SLB) Shares Sold by Marble Harbor Investment Counsel LLC

Marble Harbor Investment Counsel LLC trimmed its position in Schlumberger Limited (NYSE:SLB) by 13.2% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,919 shares of the oil and gas company’s stock after selling 1,962 shares during the period. Marble Harbor Investment Counsel LLC’s holdings in Schlumberger were worth $495,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. State Street Corp boosted its stake in Schlumberger by 0.6% in the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after acquiring an additional 528,279 shares during the period. Geode Capital Management LLC boosted its stake in Schlumberger by 0.8% in the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock valued at $1,195,290,000 after acquiring an additional 239,966 shares during the period. Pacer Advisors Inc. boosted its stake in Schlumberger by 12,289.6% in the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after acquiring an additional 12,938,082 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Schlumberger by 20.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after acquiring an additional 1,916,851 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in Schlumberger by 3.2% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 8,244,975 shares of the oil and gas company’s stock valued at $316,112,000 after acquiring an additional 254,178 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Gavin Rennick sold 26,990 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the transaction, the executive vice president now directly owns 210,502 shares in the company, valued at $8,723,202.88. This represents a 22.18 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 290,772 shares of company stock valued at $12,546,660. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $41.36 on Friday. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The stock has a market cap of $56.25 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 10.10 and a beta of 1.47. The stock’s 50 day moving average price is $40.73 and its 200 day moving average price is $41.66. 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 quarterly earnings results 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 company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.86 earnings per share. Equities research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business 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 of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.76%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is currently 36.66%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Wells Fargo & Company decreased their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. BMO Capital Markets cut their price target on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Finally, TD Cowen lifted their price target on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

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.