Fisher Asset Management LLC Sells 75,579 Shares of Schlumberger Limited (NYSE:SLB)

Fisher Asset Management LLC cut its holdings in Schlumberger Limited (NYSE:SLB) by 9.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 699,887 shares of the oil and gas company’s stock after selling 75,579 shares during the quarter. Fisher Asset Management LLC’s holdings in Schlumberger were worth $36,422,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Schlumberger by 33.4% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 125,099 shares of the oil and gas company’s stock worth $7,293,000 after acquiring an additional 31,303 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of Schlumberger by 24.9% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 337,251 shares of the oil and gas company’s stock valued at $19,662,000 after purchasing an additional 67,243 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in shares of Schlumberger by 28.9% in the third quarter. Stratos Wealth Partners LTD. now owns 19,680 shares of the oil and gas company’s stock valued at $1,147,000 after purchasing an additional 4,417 shares in the last quarter. Independent Advisor Alliance lifted its holdings in shares of Schlumberger by 2.7% in the third quarter. Independent Advisor Alliance now owns 8,028 shares of the oil and gas company’s stock valued at $468,000 after purchasing an additional 208 shares in the last quarter. Finally, Sage Mountain Advisors LLC boosted its position in shares of Schlumberger by 6.0% during the third quarter. Sage Mountain Advisors LLC now owns 6,438 shares of the oil and gas company’s stock worth $375,000 after buying an additional 364 shares during the period. 81.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SLB shares. Bank of America cut their target price on Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Wells Fargo & Company lowered shares of Schlumberger from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $68.00 to $53.00 in a research report on Monday, April 29th. Susquehanna reaffirmed a “positive” rating and issued a $77.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Barclays cut their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research report on Thursday, April 4th. Finally, HSBC restated a “buy” rating and set a $71.00 price objective on shares of Schlumberger in a research note on Thursday, April 4th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $68.72.

Insider Transactions at Schlumberger

In other news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer now owns 242,932 shares in the company, valued at $11,816,212.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $48.64, for a total value of $304,000.00. Following the completion of the sale, the chief financial officer now owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of the firm’s 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 transaction, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 0.2 %

SLB stock opened at $47.66 on Friday. The business’s 50 day simple moving average is $51.63 and its 200 day simple moving average is $51.79. Schlumberger Limited has a 1-year low of $42.73 and a 1-year high of $62.12. The firm has a market capitalization of $68.12 billion, a PE ratio of 15.83, a PEG ratio of 0.92 and a beta of 1.64. 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 (NYSE:SLB) last released its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. The firm had revenue of $8.71 billion for 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%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.63 earnings per share. As a group, research analysts anticipate that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The business also recently disclosed 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 is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 2.31%. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

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.