Summit Trail Advisors LLC Sells 2,413 Shares of Schlumberger Limited (NYSE:SLB)

Summit Trail Advisors LLC trimmed its stake in Schlumberger Limited (NYSE:SLB) by 18.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 10,534 shares of the oil and gas company’s stock after selling 2,413 shares during the period. Summit Trail Advisors LLC’s holdings in Schlumberger were worth $551,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in Schlumberger by 79.7% during the 3rd quarter. Royal Bank of Canada now owns 4,919,990 shares of the oil and gas company’s stock valued at $286,835,000 after purchasing an additional 2,182,706 shares during the last quarter. Sanders Capital LLC grew its holdings in shares of Schlumberger by 34.9% during the 3rd quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock worth $469,693,000 after purchasing an additional 2,085,506 shares in the last quarter. Invesco Ltd. lifted its position in Schlumberger by 30.5% in the third quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock worth $488,020,000 after purchasing an additional 1,954,620 shares during the period. Capital Wealth Planning LLC increased its holdings in Schlumberger by 48.2% in the 3rd quarter. Capital Wealth Planning LLC now owns 5,555,662 shares of the oil and gas company’s stock valued at $323,895,000 after buying an additional 1,807,061 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Schlumberger by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock valued at $7,609,804,000 after buying an additional 1,412,821 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Up 0.3 %

SLB traded up $0.15 during trading on Tuesday, reaching $48.11. The company had a trading volume of 2,818,367 shares, compared to its average volume of 11,055,749. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The business’s fifty day moving average price is $51.62 and its 200 day moving average price is $51.58. The company has a market cap of $68.77 billion, a P/E ratio of 15.94, a PEG ratio of 0.92 and a beta of 1.64. Schlumberger Limited has a 12 month low of $42.73 and a 12 month high of $62.12.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.75. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. Schlumberger’s revenue was up 12.6% on a year-over-year basis. During the same period last year, the business posted $0.63 EPS. Equities analysts anticipate that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.29%. Schlumberger’s payout ratio is presently 36.54%.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the transaction, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, 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 completion of the transaction, the chief financial officer now owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on SLB shares. BMO Capital Markets dropped their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Royal Bank of Canada boosted their target price on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. Benchmark reiterated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. TD Cowen reduced their price target on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, HSBC reaffirmed a “buy” rating and set a $71.00 price objective on shares of Schlumberger in a report on Thursday, April 4th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $68.72.

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.