Schlumberger Limited (NYSE:SLB) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lessened its holdings in Schlumberger Limited (NYSE:SLB) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 111,505 shares of the oil and gas company’s stock after selling 1,224 shares during the period. Gulf International Bank UK Ltd’s holdings in Schlumberger were worth $4,275,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Prospera Private Wealth LLC purchased a new stake in Schlumberger in the 3rd quarter valued at about $29,000. YANKCOM Partnership acquired a new stake in shares of Schlumberger during the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC purchased a new stake in shares of Schlumberger in the 4th quarter valued at approximately $32,000. Golden State Wealth Management LLC acquired a new position in shares of Schlumberger in the 4th quarter worth approximately $34,000. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Schlumberger during the 3rd quarter worth approximately $37,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on SLB. Citigroup boosted their target price on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Piper Sandler assumed 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. BMO Capital Markets reduced their price target on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Finally, Griffin Securities cut shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Trading Up 0.6 %

SLB opened at $40.86 on Friday. The business’s 50-day simple moving average is $40.41 and its 200-day simple moving average is $41.84. The company has a market cap of $55.56 billion, a P/E ratio of 13.14, a PEG ratio of 10.10 and a beta of 1.51. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results 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. The company had revenue of $9.28 billion for 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 was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.86 earnings per share. As a group, equities research analysts expect 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 $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.79%. Schlumberger’s payout ratio is 36.66%.

Insider Buying and Selling at Schlumberger

In related news, 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 sale, the vice president now directly owns 11,240 shares of the company’s stock, valued at $496,808. This represents a 38.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the director now owns 49,595 shares in the company, valued at $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock worth $12,546,660 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

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.