Custom Index Systems LLC Lowers Position in Schlumberger Limited (NYSE:SLB)

Custom Index Systems LLC reduced its stake in shares of Schlumberger Limited (NYSE:SLB) by 5.9% during the fourth quarter, Holdings Channel reports. The institutional investor owned 10,368 shares of the oil and gas company’s stock after selling 651 shares during the period. Custom Index Systems LLC’s holdings in Schlumberger were worth $398,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. raised its position in shares of Schlumberger by 12,289.6% during the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after purchasing an additional 12,938,082 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Schlumberger by 20.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after acquiring an additional 1,916,851 shares during the period. Weiss Asset Management LP purchased a new position in shares of Schlumberger in the third quarter valued at about $37,322,000. AEGON ASSET MANAGEMENT UK Plc bought a new position in shares of Schlumberger in the fourth quarter worth about $25,481,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Schlumberger by 395.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 778,938 shares of the oil and gas company’s stock worth $32,676,000 after purchasing an additional 621,809 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Activity at Schlumberger

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 transaction 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 trade represents a 33.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the transaction, the executive vice president now directly owns 210,502 shares of the company’s stock, valued at approximately $8,723,202.88. The trade was a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 263,782 shares of company stock worth $11,442,229. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 2.0 %

Shares of NYSE SLB opened at $40.21 on Friday. The company has a market cap of $56.32 billion, a P/E ratio of 12.93, a PEG ratio of 9.70 and a beta of 1.52. The firm has a 50-day simple moving average of $40.58 and a two-hundred day simple moving average of $42.63. Schlumberger Limited has a 1 year low of $36.52 and a 1 year 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.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate 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 business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $0.86 earnings per share. Research analysts anticipate that Schlumberger Limited will post 3.38 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 2.84%. The ex-dividend date of this dividend is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is currently 35.37%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Citigroup upped their price target on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Barclays cut their target price 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. Jefferies Financial Group dropped their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a report on Friday, January 3rd. Susquehanna decreased their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. 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 stock. According to MarketBeat.com, the stock presently 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.