Exchange Traded Concepts LLC trimmed its holdings in shares of Schlumberger Limited (NYSE:SLB – Free Report) by 19.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 12,561 shares of the oil and gas company’s stock after selling 3,075 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Schlumberger were worth $482,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Schlumberger by 89.8% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 132,062 shares of the oil and gas company’s stock worth $6,231,000 after acquiring an additional 62,466 shares during the period. EP Wealth Advisors LLC lifted its position in Schlumberger by 30.3% in the second quarter. EP Wealth Advisors LLC now owns 6,908 shares of the oil and gas company’s stock worth $326,000 after purchasing an additional 1,606 shares during the period. Cetera Investment Advisers boosted its stake in Schlumberger by 10.1% during the 2nd quarter. Cetera Investment Advisers now owns 238,145 shares of the oil and gas company’s stock valued at $11,236,000 after purchasing an additional 21,760 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Schlumberger in the 2nd quarter worth $15,603,000. Finally, Newbridge Financial Services Group Inc. raised its stake in shares of Schlumberger by 379.4% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 2,402 shares of the oil and gas company’s stock worth $113,000 after buying an additional 1,901 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.
Insider Transactions at Schlumberger
In other news, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the transaction, the director now owns 49,595 shares in the company, valued at $2,179,204.30. This represents a 33.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the company’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the completion of the sale, the executive vice president now owns 184,626 shares of the company’s stock, valued at $8,140,160.34. This represents a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 258,258 shares of company stock valued at $11,219,004 in the last three months. Corporate insiders own 0.26% of the company’s stock.
Schlumberger Price Performance
Schlumberger (NYSE:SLB – Get Free Report) 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 analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter in the prior year, the firm earned $0.86 EPS. The company’s revenue was up 3.3% compared to the same quarter last year. Equities research analysts predict that Schlumberger Limited will post 3.34 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. Shareholders of record on Wednesday, February 5th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 2.78%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is 35.37%.
Wall Street Analyst Weigh In
A number of research analysts recently issued reports on the company. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Susquehanna lowered their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Barclays reduced their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Evercore ISI reiterated an “in-line” rating and set a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Finally, Stifel Nicolaus reduced their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $55.81.
Read Our Latest Stock Analysis on SLB
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.
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