Schlumberger Limited (NYSE:SLB) Shares Sold by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC lessened its holdings in shares of Schlumberger Limited (NYSE:SLBFree Report) by 1.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 112,591 shares of the oil and gas company’s stock after selling 1,721 shares during the period. CIBC Private Wealth Group LLC’s holdings in Schlumberger were worth $5,859,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Laurel Wealth Advisors LLC grew its stake in Schlumberger by 15.3% during the 4th quarter. Laurel Wealth Advisors LLC now owns 4,890 shares of the oil and gas company’s stock worth $254,000 after buying an additional 650 shares during the last quarter. Rafferty Asset Management LLC grew its stake in Schlumberger by 15.3% during the 4th quarter. Rafferty Asset Management LLC now owns 354,147 shares of the oil and gas company’s stock worth $18,430,000 after buying an additional 47,026 shares during the last quarter. NEOS Investment Management LLC grew its stake in Schlumberger by 42.4% during the 4th quarter. NEOS Investment Management LLC now owns 20,271 shares of the oil and gas company’s stock worth $1,055,000 after buying an additional 6,035 shares during the last quarter. CWA Asset Management Group LLC grew its stake in Schlumberger by 2.4% during the 4th quarter. CWA Asset Management Group LLC now owns 130,741 shares of the oil and gas company’s stock worth $6,804,000 after buying an additional 3,091 shares during the last quarter. Finally, Estabrook Capital Management grew its stake in Schlumberger by 1.5% during the 4th quarter. Estabrook Capital Management now owns 20,425 shares of the oil and gas company’s stock worth $1,063,000 after buying an additional 300 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling

In related news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the completion of the transaction, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the completion of the transaction, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Gavin Rennick sold 38,083 shares of the business’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total value of $1,838,647.24. Following the completion of the transaction, the insider now directly owns 45,851 shares of the company’s stock, valued at $2,213,686.28. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on SLB. BMO Capital Markets dropped their price target on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Bank of America lowered 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. Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, HSBC reiterated a “buy” rating and issued a $71.00 target price 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’s stock. According to data from MarketBeat, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $68.72.

Check Out Our Latest Research Report on Schlumberger

Schlumberger Stock Performance

Shares of SLB stock opened at $43.66 on Friday. The stock has a fifty day moving average price of $49.23 and a 200 day moving average price of $50.28. The stock has a market cap of $62.40 billion, a PE ratio of 14.51, a P/E/G ratio of 0.83 and a beta of 1.57. Schlumberger Limited has a 1 year low of $42.77 and a 1 year high of $62.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37.

Schlumberger (NYSE:SLBGet Free Report) last issued its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.75. The firm had revenue of $8.71 billion during the quarter, compared to analysts’ expectations of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. Schlumberger’s revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 earnings per share. Sell-side analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, June 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a yield of 2.52%. Schlumberger’s payout ratio is currently 36.54%.

About Schlumberger

(Free Report)

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.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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