Graypoint LLC Lowers Holdings in Schlumberger Limited (NYSE:SLB)

Graypoint LLC decreased its stake in shares of Schlumberger Limited (NYSE:SLB) by 31.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,988 shares of the oil and gas company’s stock after selling 2,778 shares during the quarter. Graypoint LLC’s holdings in Schlumberger were worth $312,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in SLB. Acadian Asset Management LLC purchased a new position in Schlumberger during the first quarter valued at $25,000. Cetera Investment Advisers lifted its holdings in shares of Schlumberger by 35.3% during the first quarter. Cetera Investment Advisers now owns 39,287 shares of the oil and gas company’s stock valued at $1,623,000 after purchasing an additional 10,240 shares in the last quarter. Dakota Wealth Management bought a new position in shares of Schlumberger during the first quarter valued at $232,000. Sequoia Financial Advisors LLC bought a new position in shares of Schlumberger during the first quarter valued at $419,000. Finally, Baird Financial Group Inc. lifted its holdings in shares of Schlumberger by 2.9% during the first quarter. Baird Financial Group Inc. now owns 112,003 shares of the oil and gas company’s stock valued at $4,627,000 after purchasing an additional 3,209 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction dated Monday, February 26th. The stock was 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 $12,688,319.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Gavin Rennick sold 20,045 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $48.77, for a total transaction of $977,594.65. Following the completion of the transaction, the insider now directly owns 77,563 shares of the company’s stock, valued at $3,782,747.51. The sale was disclosed in a filing with the SEC, which is available through this link. Also, 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 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 $12,688,319.64. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 172,191 shares of company stock worth $8,636,322. 0.26% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Royal Bank of Canada upped their price target on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. Susquehanna reiterated a “positive” rating and set a $77.00 price objective on shares of Schlumberger in a research report on Monday, April 8th. HSBC reiterated a “buy” rating and set a $71.00 price objective on shares of Schlumberger in a research report on Thursday, April 4th. Benchmark reiterated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research report on Wednesday, April 3rd. Finally, Barclays reduced their price objective on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. One investment analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $70.80.

Schlumberger Stock Performance

NYSE:SLB opened at $52.00 on Monday. The company has a current ratio of 1.32, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. Schlumberger Limited has a 12-month low of $42.73 and a 12-month high of $62.12. The stock has a 50-day moving average price of $51.30 and a 200 day moving average price of $52.62. The stock has a market capitalization of $74.22 billion, a P/E ratio of 17.81, a P/E/G ratio of 0.94 and a beta of 1.60.

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

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Wednesday, February 7th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Tuesday, February 6th. Schlumberger’s dividend payout ratio is currently 34.25%.

About Schlumberger

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.