SG Americas Securities LLC Cuts Stock Position in Schlumberger Limited (NYSE:SLB)

SG Americas Securities LLC cut its holdings in shares of Schlumberger Limited (NYSE:SLB) by 19.5% during the fourth quarter, Holdings Channel reports. The firm owned 1,315,650 shares of the oil and gas company’s stock after selling 319,282 shares during the quarter. SG Americas Securities LLC’s holdings in Schlumberger were worth $50,442,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of SLB. Pacer Advisors Inc. increased its stake in Schlumberger by 4.7% during the second quarter. Pacer Advisors Inc. now owns 100,979 shares of the oil and gas company’s stock worth $4,764,000 after purchasing an additional 4,575 shares during the period. Sei Investments Co. grew its position in shares of Schlumberger by 1.8% during the second quarter. Sei Investments Co. now owns 392,899 shares of the oil and gas company’s stock worth $18,537,000 after buying an additional 6,998 shares in the last quarter. Frank Rimerman Advisors LLC grew its position in shares of Schlumberger by 45,577.8% during the second quarter. Frank Rimerman Advisors LLC now owns 8,222 shares of the oil and gas company’s stock worth $388,000 after buying an additional 8,204 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its position in shares of Schlumberger by 59.3% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 272,553 shares of the oil and gas company’s stock worth $12,859,000 after buying an additional 101,468 shares in the last quarter. Finally, Sfmg LLC grew its position in shares of Schlumberger by 4.7% during the second quarter. Sfmg LLC now owns 84,920 shares of the oil and gas company’s stock worth $4,007,000 after buying an additional 3,839 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Price Performance

Schlumberger stock opened at $41.62 on Thursday. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The business has a 50 day simple moving average of $40.83 and a 200-day simple moving average of $42.80. The stock has a market capitalization of $58.78 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 3.58 and a beta of 1.52.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities analysts predict that Schlumberger Limited will post 3.33 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is 35.37%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. BMO Capital Markets lowered their price target on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Jefferies Financial Group lowered their price target on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Evercore ISI reaffirmed an “in-line” rating and issued a $44.00 price target (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Finally, Susquehanna lowered their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $55.81.

Insiders Place Their Bets

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the transaction, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Ugo Prechner sold 7,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the transaction, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. The trade was a 38.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 198,258 shares of company stock worth $8,732,604. 0.26% of the stock is owned by corporate insiders.

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.