Sigma Planning Corp Has $468,000 Stock Holdings in Schlumberger Limited (NYSE:SLB)

Sigma Planning Corp trimmed its position in Schlumberger Limited (NYSE:SLB) by 57.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 8,997 shares of the oil and gas company’s stock after selling 12,294 shares during the period. Sigma Planning Corp’s holdings in Schlumberger were worth $468,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Schlumberger by 3.2% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 152,504 shares of the oil and gas company’s stock worth $7,936,000 after purchasing an additional 4,797 shares during the period. Grandfield & Dodd LLC grew its position in shares of Schlumberger by 26.1% during the 4th quarter. Grandfield & Dodd LLC now owns 9,173 shares of the oil and gas company’s stock worth $477,000 after buying an additional 1,896 shares during the period. abrdn plc raised its stake in shares of Schlumberger by 19.5% during the fourth quarter. abrdn plc now owns 2,291,448 shares of the oil and gas company’s stock worth $119,247,000 after buying an additional 374,416 shares during the last quarter. Greenleaf Trust lifted its holdings in Schlumberger by 20.6% in the fourth quarter. Greenleaf Trust now owns 40,571 shares of the oil and gas company’s stock valued at $2,111,000 after buying an additional 6,924 shares during the period. Finally, Lafayette Investments Inc. boosted its stake in Schlumberger by 24.3% in the fourth quarter. Lafayette Investments Inc. now owns 11,500 shares of the oil and gas company’s stock valued at $598,000 after acquiring an additional 2,250 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Schlumberger

In other news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the sale, the chief financial officer now owns 249,182 shares of the company’s stock, valued at $13,151,825.96. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CFO Stephane Biguet sold 6,250 shares of the firm’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 transaction, the chief financial officer now owns 249,182 shares in the company, valued at approximately $13,151,825.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Katharina Beumelburg sold 8,000 shares of the company’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.62, for a total value of $420,960.00. Following the sale, the insider now owns 15,581 shares in the company, valued at approximately $819,872.22. The disclosure for this sale can be found here. Insiders sold 90,545 shares of company stock valued at $4,458,430 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Price Performance

Shares of NYSE SLB opened at $49.45 on Friday. The company has a fifty day moving average price of $51.73 and a 200 day moving average price of $52.23. The firm has a market cap of $70.58 billion, a PE ratio of 16.43, a PEG ratio of 0.95 and a beta of 1.60. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 1-year low of $42.73 and a 1-year high of $62.12.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting analysts’ consensus estimates of $0.75. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 earnings per share. Research analysts predict that Schlumberger Limited will post 3.5 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.22%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is 36.54%.

Analysts Set New Price Targets

Several brokerages have commented on SLB. Morgan Stanley reiterated an “overweight” rating and set a $65.00 target price on shares of Schlumberger in a research report on Monday. Royal Bank of Canada increased their target price on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. BMO Capital Markets decreased their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Monday. Barclays lowered their price target on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Finally, Bank of America reduced their price objective on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday. One investment analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $69.67.

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.