Cypress Capital Group Reduces Stake in Schlumberger Limited (NYSE:SLB)

Cypress Capital Group reduced its position in Schlumberger Limited (NYSE:SLB) by 7.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,197 shares of the oil and gas company’s stock after selling 2,344 shares during the period. Cypress Capital Group’s holdings in Schlumberger were worth $1,043,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Prospera Private Wealth LLC purchased a new position in Schlumberger during the third quarter valued at $29,000. YANKCOM Partnership purchased a new position in Schlumberger during the fourth quarter valued at $31,000. Stonebridge Financial Group LLC purchased a new position in Schlumberger during the fourth quarter valued at $32,000. Golden State Wealth Management LLC purchased a new position in Schlumberger during the fourth quarter valued at $34,000. Finally, Ashton Thomas Securities LLC purchased a new position in Schlumberger during the third quarter valued at $37,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was 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. The trade was a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were 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 of the company’s stock, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 290,772 shares of company stock valued at $12,546,660 over the last ninety days. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SLB. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. TD Cowen boosted their price objective on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Evercore ISI restated an “in-line” rating and issued a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Jefferies Financial Group lowered their price objective on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Finally, Citigroup boosted their price objective on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Trading Up 1.0 %

Shares of SLB stock opened at $39.47 on Thursday. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The stock’s 50-day moving average price is $40.62 and its 200-day moving average price is $41.70. The stock has a market capitalization of $53.67 billion, a price-to-earnings ratio of 12.69, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share 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 company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. During the same period in the previous year, the firm posted $0.86 earnings per share. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.89%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s payout ratio is presently 36.66%.

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.