Titleist Asset Management LLC Trims Position in Schlumberger Limited (NYSE:SLB)

Titleist Asset Management LLC cut its stake in shares of Schlumberger Limited (NYSE:SLB) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 87,554 shares of the oil and gas company’s stock after selling 5,397 shares during the quarter. Titleist Asset Management LLC’s holdings in Schlumberger were worth $3,357,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. YANKCOM Partnership bought a new stake in shares of Schlumberger in the 4th quarter worth about $31,000. Stonebridge Financial Group LLC bought a new stake in Schlumberger during the fourth quarter valued at about $32,000. Golden State Wealth Management LLC bought a new position in shares of Schlumberger during the 4th quarter worth approximately $34,000. Hager Investment Management Services LLC purchased a new position in Schlumberger during the 4th quarter worth $38,000. Finally, Bogart Wealth LLC raised its position in shares of 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 purchasing an additional 844 shares during the last quarter. 81.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their target price on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Wells Fargo & Company cut their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Barclays dropped their price objective on shares of Schlumberger from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. Finally, Stifel Nicolaus dropped their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Six equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $54.79.

Insider Buying and Selling

In related news, insider Aparna Raman sold 25,133 shares of the firm’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the sale, the insider now owns 31,031 shares of the company’s stock, valued at $1,311,990.68. This trade represents a 44.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the 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 completion of the sale, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 315,905 shares of company stock valued at $13,609,283. 0.26% of the stock is owned by company insiders.

Schlumberger Stock Down 11.3 %

NYSE SLB opened at $34.77 on Friday. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The stock’s 50 day moving average is $41.02 and its two-hundred day moving average is $41.45. Schlumberger Limited has a 1-year low of $34.04 and a 1-year high of $55.65. The company has a market capitalization of $47.28 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 10.10 and a beta of 1.11.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.86 earnings per share. Equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th were issued a dividend of $0.285 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date was Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 3.28%. Schlumberger’s payout ratio is presently 36.66%.

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.