Allspring Global Investments Holdings LLC Sells 39,642 Shares of Schlumberger Limited (NYSE:SLB)

Allspring Global Investments Holdings LLC decreased its position in shares of Schlumberger Limited (NYSE:SLB) by 33.0% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 80,498 shares of the oil and gas company’s stock after selling 39,642 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Schlumberger were worth $4,189,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. BluePath Capital Management LLC bought a new position in shares of Schlumberger in the third quarter worth about $25,000. Acadian Asset Management LLC bought a new stake in shares of Schlumberger during the first quarter valued at approximately $25,000. Coppell Advisory Solutions LLC purchased a new position in shares of Schlumberger in the second quarter worth $27,000. MCF Advisors LLC boosted its position in shares of Schlumberger by 1,355.9% during the third quarter. MCF Advisors LLC now owns 495 shares of the oil and gas company’s stock worth $29,000 after acquiring an additional 461 shares during the last quarter. Finally, Tyler Stone Wealth Management purchased a new position in Schlumberger during the second quarter valued at $33,000. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the transaction, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Mogharbel Khaled Al sold 38,570 shares of the firm’s stock in a transaction on Tuesday, January 23rd. The stock was sold at an average price of $50.42, for a total value of $1,944,699.40. Following the completion of the transaction, the executive vice president now owns 386,841 shares in the company, valued at approximately $19,504,523.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The disclosure for this sale can be found here. Insiders have sold 172,191 shares of company stock worth $8,636,322 over the last quarter. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 2.2 %

NYSE SLB opened at $49.84 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The stock has a market cap of $71.14 billion, a PE ratio of 17.07, a PEG ratio of 0.97 and a beta of 1.60. The company’s 50-day moving average price is $51.62 and its 200-day moving average price is $52.43. Schlumberger Limited has a 12 month low of $42.73 and a 12 month high of $62.12.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The business had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 EPS. Equities research analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a $0.275 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.21%. Schlumberger’s dividend payout ratio (DPR) is currently 37.67%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Royal Bank of Canada lifted their target price on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a report on Wednesday, April 3rd. Wells Fargo & Company upped their price objective on Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, January 22nd. Susquehanna reissued a “positive” rating and issued a $77.00 target price on shares of Schlumberger in a report on Monday, April 8th. HSBC reaffirmed a “buy” rating and set a $71.00 price target on shares of Schlumberger in a research note on Thursday, April 4th. Finally, Bank of America lifted their price objective on shares of Schlumberger from $62.00 to $63.00 and gave the stock a “buy” rating in a research note on Monday, April 15th. One equities research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $70.31.

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.