Ferguson Wellman Capital Management Inc. Sells 298,647 Shares of Schlumberger Limited (NYSE:SLB)

Ferguson Wellman Capital Management Inc. lessened its position in shares of Schlumberger Limited (NYSE:SLB) by 61.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 183,771 shares of the oil and gas company’s stock after selling 298,647 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Schlumberger were worth $7,046,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Teachers Retirement System of The State of Kentucky increased its stake in shares of Schlumberger by 25.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock valued at $31,961,000 after purchasing an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after acquiring an additional 16,350 shares during the last quarter. Victory Capital Management Inc. raised its stake in Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock worth $34,305,000 after acquiring an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Schlumberger by 269.1% in the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after acquiring an additional 14,376 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in shares of Schlumberger by 26.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock valued at $12,880,000 after purchasing an additional 63,413 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insiders Place Their Bets

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 11,240 shares in the company, valued at approximately $496,808. This represents a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the sale, the director now owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 263,782 shares of company stock worth $11,442,229. 0.26% of the stock is currently owned by company insiders.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $40.15 on Monday. The company has a market cap of $56.25 billion, a P/E ratio of 12.91, a PEG ratio of 9.49 and a beta of 1.51. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $40.17 and a two-hundred day moving average price of $42.23. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.86 earnings per share. As a group, analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.84%. Schlumberger’s dividend payout ratio is currently 36.66%.

Analysts Set New Price Targets

SLB has been the subject of several research reports. Piper Sandler assumed coverage on shares of Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Stifel Nicolaus dropped their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Royal Bank of Canada restated an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. Citigroup increased their target price on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. 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 company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

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.