Schlumberger Limited (NYSE:SLB) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of Schlumberger Limited (NYSE:SLB) by 1.4% in the 4th quarter, Holdings Channel reports. The fund owned 596,944 shares of the oil and gas company’s stock after selling 8,236 shares during the period. Victory Capital Management Inc.’s holdings in Schlumberger were worth $31,065,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also bought and sold shares of the stock. Highland Capital Management LLC raised its position in shares of Schlumberger by 2,494.0% in the fourth quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock worth $5,278,000 after acquiring an additional 97,516 shares during the period. Guinness Asset Management LTD grew its holdings in Schlumberger by 0.3% in the third quarter. Guinness Asset Management LTD now owns 331,309 shares of the oil and gas company’s stock valued at $19,468,000 after purchasing an additional 965 shares during the period. Nordea Investment Management AB increased its position in shares of Schlumberger by 36.4% in the fourth quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock valued at $74,080,000 after buying an additional 380,185 shares in the last quarter. Allworth Financial LP raised its stake in shares of Schlumberger by 3.8% during the 3rd quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock worth $324,000 after buying an additional 206 shares during the period. Finally, Asset Management One Co. Ltd. lifted its position in shares of Schlumberger by 6.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock valued at $31,726,000 after buying an additional 35,763 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Up 0.4 %

Shares of NYSE SLB opened at $48.17 on Wednesday. The stock has a fifty day simple moving average of $51.62 and a 200-day simple moving average of $51.51. Schlumberger Limited has a twelve month low of $42.73 and a twelve month high of $62.12. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The stock has a market capitalization of $68.85 billion, a PE ratio of 16.00, a PEG ratio of 0.92 and a beta of 1.64.

Schlumberger (NYSE:SLB) last issued 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 company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 earnings per share. On average, equities analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.28%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger’s payout ratio is presently 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total value of $304,000.00. Following the sale, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now directly owns 242,932 shares in the company, valued at $11,816,212.48. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on SLB shares. Bank of America decreased their price objective on Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. HSBC reissued a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a research note on Thursday, April 4th. Wells Fargo & Company lowered Schlumberger from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $68.00 to $53.00 in a research report on Monday, April 29th. Finally, BMO Capital Markets lowered their price objective on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.72.

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.