Bourgeon Capital Management LLC Sells 1,759 Shares of Schlumberger Limited (NYSE:SLB)

Bourgeon Capital Management LLC reduced its position in Schlumberger Limited (NYSE:SLB) by 0.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 187,586 shares of the oil and gas company’s stock after selling 1,759 shares during the quarter. Bourgeon Capital Management LLC’s holdings in Schlumberger were worth $7,192,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. ORG Partners LLC lifted its stake in shares of Schlumberger by 393.5% in the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares in the last quarter. Prospera Private Wealth LLC bought a new stake in Schlumberger during the 3rd quarter worth approximately $29,000. Ashton Thomas Securities LLC purchased a new stake in shares of Schlumberger in the third quarter worth approximately $37,000. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Schlumberger by 1,068.3% in the third quarter. DiNuzzo Private Wealth Inc. now owns 958 shares of the oil and gas company’s stock valued at $40,000 after purchasing an additional 876 shares in the last quarter. Finally, J. Stern & Co. LLP purchased a new position in shares of Schlumberger during the third quarter valued at approximately $47,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Citigroup raised their price objective on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday. Atb Cap Markets lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. 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 note on Tuesday, December 17th. Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a report on Tuesday. Finally, Stifel Nicolaus reduced their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction 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 trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the transaction, 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. Insiders sold a total of 258,258 shares of company stock worth $11,246,604 over the last ninety days. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Up 0.4 %

Shares of NYSE SLB opened at $43.76 on Wednesday. The business has a 50-day simple moving average of $40.84 and a two-hundred day simple moving average of $42.81. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The company has a market cap of $61.80 billion, a P/E ratio of 14.07, a P/E/G ratio of 3.61 and a beta of 1.52. 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 issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same quarter in the previous year, the company earned $0.86 earnings per share. Schlumberger’s revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts anticipate that Schlumberger Limited will post 3.29 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.60%. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

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.