TIAA Trust National Association Increases Position in Schlumberger Limited (NYSE:SLB)

TIAA Trust National Association grew its holdings in Schlumberger Limited (NYSE:SLB) by 3.9% during the fourth quarter, HoldingsChannel reports. The firm owned 10,068 shares of the oil and gas company’s stock after acquiring an additional 376 shares during the period. TIAA Trust National Association’s holdings in Schlumberger were worth $386,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. YANKCOM Partnership purchased a new position in Schlumberger during the fourth quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Schlumberger in the 4th quarter worth $32,000. Golden State Wealth Management LLC purchased a new position in shares of Schlumberger during the 4th quarter worth $34,000. Hager Investment Management Services LLC acquired a new position in shares of Schlumberger during the 4th quarter valued at about $38,000. Finally, Bogart Wealth LLC grew its holdings in shares of Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 844 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

SLB has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. BMO Capital Markets decreased their price objective on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Griffin Securities cut Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a research note on Tuesday, January 21st. Finally, Evercore ISI reissued an “in-line” rating and set a $44.00 price objective (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Six research 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 stock. According to data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and an average price target of $55.69.

Insider Buying and Selling at Schlumberger

In other news, insider Gavin Rennick sold 26,990 shares of the company’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the transaction, the insider now directly owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. This represents a 33.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 value of $223,224.84. Following the completion of the transaction, the insider now owns 30,829 shares in the company, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 290,772 shares of company stock valued at $12,546,660. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.6 %

Shares of NYSE SLB opened at $41.87 on Friday. The stock has a market cap of $56.93 billion, a P/E ratio of 13.46, a PEG ratio of 10.10 and a beta of 1.47. The business’s fifty day simple moving average is $41.29 and its 200-day simple moving average is $41.44. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.65. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, beating 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 company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same quarter last year, the company earned $0.86 EPS. Schlumberger’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 2.72%. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is 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.