InTrack Investment Management Inc Has $363,000 Stock Holdings in Schlumberger Limited (NYSE:SLB)

InTrack Investment Management Inc lowered its stake in Schlumberger Limited (NYSE:SLB) by 8.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,097 shares of the oil and gas company’s stock after selling 894 shares during the period. InTrack Investment Management Inc’s holdings in Schlumberger were worth $363,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. State Street Corp boosted its holdings in shares of Schlumberger by 0.6% during the 3rd 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 in the last quarter. Geode Capital Management LLC raised its position 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 purchasing an additional 239,966 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Schlumberger by 14.0% during the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Schlumberger by 20.6% during 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 worth $470,425,000 after purchasing an additional 1,916,851 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Schlumberger by 0.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock valued at $335,214,000 after buying an additional 31,718 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on SLB shares. Wells Fargo & Company cut their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. JPMorgan Chase & Co. reduced their price objective on shares of Schlumberger from $55.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Susquehanna lowered their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Stifel Nicolaus reduced their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $69.00 price objective on shares of Schlumberger in a research report on Thursday, October 3rd. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $56.03.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

SLB stock opened at $43.58 on Friday. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The stock has a market capitalization of $61.54 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 1.35 and a beta of 1.52. The company’s 50-day moving average is $40.85 and its 200-day moving average is $42.92. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same quarter last year, the firm posted $0.86 earnings per share. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. Equities research analysts expect that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.62%. Schlumberger’s dividend payout ratio is presently 35.37%.

Schlumberger Company 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.