Schlumberger Limited (NYSE:SLB) Position Lessened by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC trimmed its position in shares of Schlumberger Limited (NYSE:SLBFree Report) by 16.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,303 shares of the oil and gas company’s stock after selling 4,081 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Schlumberger were worth $1,057,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Schlumberger during the fourth quarter valued at about $1,000,292,000. Royal Bank of Canada raised its holdings in Schlumberger by 79.7% during the third quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock valued at $286,835,000 after buying an additional 2,182,706 shares in the last quarter. Sanders Capital LLC raised its holdings in Schlumberger by 34.9% during the third quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock valued at $469,693,000 after buying an additional 2,085,506 shares in the last quarter. Invesco Ltd. raised its holdings in Schlumberger by 30.5% during the third quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock valued at $488,020,000 after buying an additional 1,954,620 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Schlumberger by 1.1% during the third quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock valued at $7,609,804,000 after buying an additional 1,412,821 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the completion of the sale, the chief technology officer now owns 33,421 shares in the company, valued at approximately $1,612,897.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the completion of the sale, the chief technology officer now owns 33,421 shares in the company, valued at approximately $1,612,897.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Gavin Rennick sold 38,083 shares of the business’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the completion of the transaction, the insider now directly owns 45,851 shares of the company’s stock, valued at approximately $2,213,686.28. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. TD Cowen cut their target price on Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Bank of America lowered their price target on Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Stifel Nicolaus reaffirmed a “buy” rating and issued a $64.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Finally, Susquehanna reaffirmed a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $68.72.

Get Our Latest Stock Report on SLB

Schlumberger Stock Performance

NYSE:SLB opened at $44.07 on Tuesday. Schlumberger Limited has a 1 year low of $43.81 and a 1 year high of $62.12. The firm has a 50 day moving average of $49.90 and a 200-day moving average of $50.44. 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 $62.99 billion, a P/E ratio of 14.64, a price-to-earnings-growth ratio of 0.88 and a beta of 1.58.

Schlumberger (NYSE:SLBGet Free Report) last posted its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. During the same quarter in the previous year, the company posted $0.63 EPS. Schlumberger’s revenue was up 12.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.50%. Schlumberger’s payout ratio is presently 36.54%.

Schlumberger Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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