Allspring Global Investments Holdings LLC Sells 4,027 Shares of Schlumberger Limited (NYSE:SLB)

Allspring Global Investments Holdings LLC decreased its stake in shares of Schlumberger Limited (NYSE:SLB) by 0.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 953,099 shares of the oil and gas company’s stock after selling 4,027 shares during the period. Allspring Global Investments Holdings LLC owned about 0.07% of Schlumberger worth $36,599,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Prospera Private Wealth LLC bought a new position in Schlumberger in the third quarter worth approximately $29,000. YANKCOM Partnership bought a new position in Schlumberger in the fourth quarter worth approximately $31,000. Stonebridge Financial Group LLC bought a new position in Schlumberger in the fourth quarter worth approximately $32,000. Ashton Thomas Securities LLC bought a new position in Schlumberger in the third quarter worth approximately $37,000. Finally, Golden State Wealth Management LLC bought a new position in Schlumberger in the fourth quarter worth approximately $34,000. Institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the sale, the executive vice president now owns 210,502 shares in the company, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the sale, the insider now owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 263,782 shares of company stock worth $11,442,229. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Performance

Shares of NYSE:SLB opened at $41.75 on Friday. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The stock has a market capitalization of $58.48 billion, a P/E ratio of 13.42, a PEG ratio of 9.49 and a beta of 1.51. The firm has a fifty day simple moving average of $40.06 and a two-hundred day simple moving average of $42.09. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

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

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 2.73%. The ex-dividend date is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Analyst Ratings Changes

Several research analysts have weighed in on SLB shares. Wells Fargo & Company decreased their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Citigroup increased their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. JPMorgan Chase & Co. increased their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Finally, Barclays reduced their price objective on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.