Schlumberger Limited (NYSE:SLB) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its stake in shares of Schlumberger Limited (NYSE:SLB) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 97,581 shares of the oil and gas company’s stock after selling 1,344 shares during the quarter. Kentucky Retirement Systems’ holdings in Schlumberger were worth $3,741,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. CX Institutional grew its position in shares of Schlumberger by 2.4% during the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock worth $398,000 after buying an additional 244 shares in the last quarter. GM Advisory Group LLC grew its holdings in Schlumberger by 3.8% during the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock worth $281,000 after acquiring an additional 247 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Schlumberger by 0.5% in the 4th 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 purchasing an additional 262 shares during the last quarter. Cordatus Wealth Management LLC increased its position in shares of Schlumberger by 2.1% in the 3rd quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock valued at $561,000 after purchasing an additional 281 shares during the last quarter. Finally, Cromwell Holdings LLC raised its holdings in shares of Schlumberger by 7.0% in the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock valued at $167,000 after purchasing an additional 283 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the subject of several recent analyst reports. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Stifel Nicolaus reduced their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Royal Bank of Canada reissued an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Finally, Piper Sandler assumed coverage on Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.81.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 43,161 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the sale, the insider now owns 235,024 shares in the company, valued at $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s 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 in the company, valued at $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 263,782 shares of company stock worth $11,442,229. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 2.1 %

NYSE SLB opened at $41.73 on Friday. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The firm has a 50-day moving average price of $40.20 and a 200 day moving average price of $41.91. The stock has a market capitalization of $58.45 billion, a P/E ratio of 13.42, a P/E/G ratio of 10.00 and a beta of 1.51. 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 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. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same period in the prior year, the business posted $0.86 EPS. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.73%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

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.