Schlumberger Limited (NYSE:SLB) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 1.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,455,239 shares of the oil and gas company’s stock after selling 61,897 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.38% of Schlumberger worth $283,891,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SLB. Acadian Asset Management LLC purchased a new position in shares of Schlumberger in the 1st quarter valued at approximately $25,000. Cetera Investment Advisers grew its stake in shares of Schlumberger by 35.3% in the 1st 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 during the last quarter. Dakota Wealth Management purchased a new position in shares of Schlumberger in the 1st quarter valued at approximately $232,000. Sequoia Financial Advisors LLC purchased a new position in shares of Schlumberger in the 1st quarter valued at approximately $419,000. Finally, Baird Financial Group Inc. grew its stake in shares of Schlumberger by 2.9% in the 1st 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 during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the completion of the sale, the chief financial officer now owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total value of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 172,191 shares of company stock valued at $8,636,322. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

NYSE SLB opened at $52.00 on Monday. Schlumberger Limited has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The stock has a market cap of $74.22 billion, a price-to-earnings ratio of 17.81, a price-to-earnings-growth ratio of 0.94 and a beta of 1.60. The business has a fifty day moving average of $51.30 and a 200-day moving average of $52.62. 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 results 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. The company had revenue of $8.99 billion during the quarter, compared to analysts’ expectations of $8.96 billion. Schlumberger had a return on equity of 21.97% and a net margin of 12.68%. The business’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.71 earnings per share. As a group, analysts predict that Schlumberger Limited will post 3.52 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 4th. Shareholders of record on Wednesday, February 7th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.92%. The ex-dividend date of this dividend was Tuesday, February 6th. Schlumberger’s dividend payout ratio (DPR) is presently 34.25%.

Analysts Set New Price Targets

SLB has been the topic of a number of analyst reports. Benchmark restated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Wednesday, April 3rd. Royal Bank of Canada lifted their price target on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. Barclays decreased their price target on Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Susquehanna restated a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a research note on Monday, April 8th. Finally, Wells Fargo & Company lifted their price target on Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, January 22nd. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $70.80.

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.