Choreo LLC Sells 3,009 Shares of Schlumberger Limited (NYSE:SLB)

Choreo LLC reduced its position in Schlumberger Limited (NYSE:SLB) by 5.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 49,395 shares of the oil and gas company’s stock after selling 3,009 shares during the quarter. Choreo LLC’s holdings in Schlumberger were worth $1,873,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. Teachers Retirement System of The State of Kentucky boosted its stake in Schlumberger by 25.9% during the third quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after acquiring an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB boosted its stake in Schlumberger by 27.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after acquiring an additional 16,350 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after acquiring an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC boosted its stake in Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after acquiring an additional 14,376 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in Schlumberger by 26.0% during the third quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock worth $12,880,000 after acquiring an additional 63,413 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Schlumberger Stock Performance

Shares of SLB stock opened at $40.15 on Friday. The company has a market cap of $56.25 billion, a P/E ratio of 12.91, a P/E/G ratio of 9.55 and a beta of 1.51. The firm has a 50-day moving average of $40.25 and a 200-day moving average of $42.35. 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 Limited has a one year low of $36.52 and a one year high of $55.69.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion during 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%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.86 earnings per share. Equities research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.84%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is presently 35.37%.

Analyst Ratings Changes

Several brokerages recently issued reports on SLB. BMO Capital Markets cut their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Evercore ISI reissued an “in-line” rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Citigroup upped their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. upped their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Finally, Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Insider Activity at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the transaction, the insider now owns 30,829 shares in the company, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the transaction, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 263,782 shares of company stock worth $11,442,229. 0.26% of the stock is owned by company insiders.

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.