Cannell & Spears LLC Decreases Stock Position in Schlumberger Limited (NYSE:SLB)

Cannell & Spears LLC cut its position in Schlumberger Limited (NYSE:SLB) by 79.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,668 shares of the oil and gas company’s stock after selling 96,765 shares during the quarter. Cannell & Spears LLC’s holdings in Schlumberger were worth $946,000 at the end of the most recent reporting period.

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

Schlumberger Price Performance

SLB stock opened at $41.83 on Tuesday. The firm has a market cap of $56.89 billion, a P/E ratio of 13.45, a P/E/G ratio of 10.10 and a beta of 1.47. The firm’s fifty day moving average is $41.25 and its 200 day moving average is $41.48. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.65. 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 released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share 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 during the quarter, compared to analyst estimates of $9.24 billion. During the same quarter in the previous year, the company posted $0.86 EPS. Schlumberger’s revenue for the quarter was up 3.3% on a year-over-year basis. Research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

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

Insider Buying and Selling

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the sale, the insider now owns 30,829 shares of the company’s stock, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dianne B. Ralston sold 43,161 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the transaction, the insider now directly owns 235,024 shares of the company’s stock, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock valued at $12,546,660 over the last three months. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Citigroup raised their price target on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. TD Cowen raised their target price on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Jefferies Financial Group decreased their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Wells Fargo & Company lowered their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Six 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 stock. According to MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.69.

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.