Greenleaf Trust Trims Stake in Schlumberger Limited (NYSE:SLB)

Greenleaf Trust lowered its position in Schlumberger Limited (NYSE:SLB) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 31,416 shares of the oil and gas company’s stock after selling 1,607 shares during the quarter. Greenleaf Trust’s holdings in Schlumberger were worth $1,204,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Spire Wealth Management increased its holdings in shares of Schlumberger by 21.5% in the 4th quarter. Spire Wealth Management now owns 19,950 shares of the oil and gas company’s stock worth $765,000 after buying an additional 3,527 shares during the last quarter. Osborne Partners Capital Management LLC grew its position in Schlumberger by 3.2% in the fourth quarter. Osborne Partners Capital Management LLC now owns 222,414 shares of the oil and gas company’s stock worth $8,527,000 after acquiring an additional 6,889 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its stake in Schlumberger by 0.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock valued at $2,174,000 after acquiring an additional 262 shares during the last quarter. Inlet Private Wealth LLC raised its position in Schlumberger by 82.5% during the fourth quarter. Inlet Private Wealth LLC now owns 19,690 shares of the oil and gas company’s stock valued at $755,000 after purchasing an additional 8,900 shares in the last quarter. Finally, Independence Bank of Kentucky lifted its stake in Schlumberger by 3.5% during the fourth quarter. Independence Bank of Kentucky now owns 22,770 shares of the oil and gas company’s stock worth $873,000 after purchasing an additional 760 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the transaction, the executive vice president now owns 210,502 shares in the company, valued at approximately $8,723,202.88. The trade was a 22.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 completion of the sale, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock worth $11,442,229 in the last three months. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of research reports. Stifel Nicolaus decreased their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Piper Sandler started coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. TD Cowen upped their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Barclays decreased their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a research report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Price Performance

Shares of NYSE SLB opened at $40.16 on Tuesday. 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 $56.26 billion, a P/E ratio of 12.91, a P/E/G ratio of 9.55 and a beta of 1.51. The company’s 50-day moving average is $40.49 and its 200 day moving average is $42.49. 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 announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The business’s revenue was up 3.3% compared to the same quarter last year. On average, sell-side analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be given a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.84%. Schlumberger’s dividend payout ratio is currently 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.