Asset Management One Co. Ltd. Cuts Position in Schlumberger Limited (NYSE:SLB)

Asset Management One Co. Ltd. trimmed its stake in Schlumberger Limited (NYSE:SLB) by 4.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 605,500 shares of the oil and gas company’s stock after selling 31,516 shares during the period. Asset Management One Co. Ltd.’s holdings in Schlumberger were worth $22,888,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Exchange Traded Concepts LLC boosted its holdings in shares of Schlumberger by 205.6% in the 3rd quarter. Exchange Traded Concepts LLC now owns 15,636 shares of the oil and gas company’s stock valued at $656,000 after buying an additional 10,520 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Schlumberger by 2.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 169,243 shares of the oil and gas company’s stock valued at $7,100,000 after acquiring an additional 3,882 shares in the last quarter. V Square Quantitative Management LLC increased its position in shares of Schlumberger by 11.8% during the third quarter. V Square Quantitative Management LLC now owns 26,554 shares of the oil and gas company’s stock worth $1,114,000 after purchasing an additional 2,812 shares in the last quarter. Stonegate Investment Group LLC lifted its holdings in shares of Schlumberger by 101.1% during the 3rd quarter. Stonegate Investment Group LLC now owns 22,653 shares of the oil and gas company’s stock valued at $950,000 after purchasing an additional 11,390 shares during the last quarter. Finally, Stratos Investment Management LLC boosted its position in shares of Schlumberger by 6.0% in the 3rd quarter. Stratos Investment Management LLC now owns 70,427 shares of the oil and gas company’s stock worth $2,954,000 after purchasing an additional 4,014 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

NYSE SLB opened at $41.75 on Friday. The stock has a market capitalization of $58.48 billion, a price-to-earnings ratio of 13.42, a PEG ratio of 9.49 and a beta of 1.51. The stock has a 50-day moving average of $40.08 and a 200 day moving average of $42.05. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69.

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

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a dividend yield of 2.73%. 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 dividend payout ratio is 36.66%.

Insider Activity at Schlumberger

In other news, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total value 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 trade represents a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the sale, the vice president now owns 11,240 shares of the company’s stock, valued at $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 263,782 shares of company stock valued at $11,442,229. 0.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Piper Sandler started coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price on the stock. Barclays lowered 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 cut their price target on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. BMO Capital Markets lowered their price objective on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Wells Fargo & Company cut their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock 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.