SVB Wealth LLC Reduces Position in Schlumberger Limited (NYSE:SLB)

SVB Wealth LLC cut its position in shares of Schlumberger Limited (NYSE:SLB) by 15.6% in the fourth quarter, Holdings Channel.com reports. The firm owned 152,302 shares of the oil and gas company’s stock after selling 28,147 shares during the quarter. SVB Wealth LLC’s holdings in Schlumberger were worth $7,926,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Highland Capital Management LLC raised its holdings in shares of Schlumberger by 2,494.0% in the 4th quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock valued at $5,278,000 after purchasing an additional 97,516 shares in the last quarter. Guinness Asset Management LTD boosted its holdings in shares of Schlumberger by 0.3% in the 3rd quarter. Guinness Asset Management LTD now owns 331,309 shares of the oil and gas company’s stock valued at $19,468,000 after acquiring an additional 965 shares during the last quarter. Nordea Investment Management AB boosted its holdings in shares of Schlumberger by 36.4% in the 4th quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock valued at $74,080,000 after acquiring an additional 380,185 shares during the last quarter. Allworth Financial LP boosted its holdings in shares of Schlumberger by 3.8% in the 3rd quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock valued at $324,000 after acquiring an additional 206 shares during the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in Schlumberger by 6.3% during the fourth quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock worth $31,726,000 after buying an additional 35,763 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of recent analyst reports. Benchmark reissued a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Wednesday, April 3rd. HSBC reiterated a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a research report on Thursday, April 4th. Susquehanna restated a “positive” rating and set a $77.00 price objective on shares of Schlumberger in a research report on Monday, April 8th. Bank of America raised their price objective on shares of Schlumberger from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. One analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $70.31.

Insider Activity

In other news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the transaction, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the sale, the chief financial officer now owns 242,932 shares in the company, valued at $11,816,212.48. The disclosure for this sale can be found here. Insiders have sold 172,191 shares of company stock valued at $8,636,322 in the last ninety days. 0.26% of the stock is currently owned by company insiders.

Schlumberger Stock Down 0.5 %

Shares of NYSE:SLB opened at $51.41 on Wednesday. The firm’s 50 day moving average price is $51.43 and its 200 day moving average price is $52.51. The stock has a market cap of $73.38 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 0.93 and a beta of 1.60. Schlumberger Limited has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, January 19th. The oil and gas company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.84 by $0.02. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The company had revenue of $8.99 billion for the quarter, compared to analysts’ expectations of $8.96 billion. During the same quarter last year, the company earned $0.71 earnings per share. The firm’s revenue for the quarter was up 14.1% on a year-over-year basis. As a group, equities research analysts predict that Schlumberger Limited will post 3.52 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Stockholders of record on Wednesday, February 7th were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, February 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.95%. Schlumberger’s payout ratio is 34.25%.

Schlumberger 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.