King Luther Capital Management Corp Decreases Stake in Schlumberger Limited (NYSE:SLB)

King Luther Capital Management Corp cut its holdings in shares of Schlumberger Limited (NYSE:SLB) by 49.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 18,070 shares of the oil and gas company’s stock after selling 17,727 shares during the quarter. King Luther Capital Management Corp’s holdings in Schlumberger were worth $693,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SLB. State Street Corp grew its position in shares of Schlumberger by 0.6% in the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after purchasing an additional 528,279 shares in the last quarter. Geode Capital Management LLC boosted its stake in Schlumberger by 0.8% during the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock worth $1,195,290,000 after buying an additional 239,966 shares during the last quarter. Pacer Advisors Inc. grew its holdings in Schlumberger by 12,289.6% in the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after buying an additional 12,938,082 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after acquiring an additional 1,916,851 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Schlumberger by 3.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 8,244,975 shares of the oil and gas company’s stock worth $316,112,000 after acquiring an additional 254,178 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity at Schlumberger

In related news, insider Bejar Carmen Rando sold 5,524 shares of the company’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 value of $223,224.84. Following the completion of the transaction, the insider now directly owns 30,829 shares of the company’s stock, valued at $1,245,799.89. This represents a 15.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the transaction, the vice president now owns 11,240 shares in the company, valued at $496,808. This represents a 38.38 % decrease in their ownership of the stock. 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 quarter. 0.26% of the stock is owned by insiders.

Schlumberger Price Performance

SLB stock opened at $39.92 on Friday. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The firm has a market capitalization of $54.28 billion, a P/E ratio of 12.84, a P/E/G ratio of 10.10 and a beta of 1.47. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The business’s 50-day moving average is $40.90 and its two-hundred day moving average is $41.55.

Schlumberger (NYSE:SLB) last issued its quarterly 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 net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.86%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is presently 36.66%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. JPMorgan Chase & Co. upped their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Citigroup increased their price target on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Atb Cap Markets lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Piper Sandler began coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective on the stock. Finally, BMO Capital Markets cut their target price on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

About Schlumberger

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.