Court Place Advisors LLC Reduces Stock Holdings in Schlumberger Limited (NYSE:SLB)

Court Place Advisors LLC lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 15.0% in the 4th quarter, HoldingsChannel reports. The firm owned 5,897 shares of the oil and gas company’s stock after selling 1,040 shares during the quarter. Court Place Advisors LLC’s holdings in Schlumberger were worth $226,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in SLB. Teachers Retirement System of The State of Kentucky grew its position in Schlumberger by 25.9% during the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock worth $31,961,000 after purchasing an additional 156,698 shares during the period. Wilmington Savings Fund Society FSB grew its holdings in Schlumberger by 27.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock worth $3,223,000 after acquiring an additional 16,350 shares during the period. Victory Capital Management Inc. raised its position in Schlumberger by 8.7% during the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after acquiring an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in Schlumberger by 269.1% in the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after acquiring an additional 14,376 shares during the period. Finally, Los Angeles Capital Management LLC boosted its position in Schlumberger by 26.0% in the 3rd quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock worth $12,880,000 after purchasing an additional 63,413 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on SLB. Bank of America decreased their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. TD Cowen upped their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. BMO Capital Markets lowered their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Finally, Barclays lowered their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Stock Performance

NYSE:SLB opened at $42.55 on Tuesday. The company has a market cap of $60.08 billion, a P/E ratio of 13.68, a P/E/G ratio of 9.98 and a beta of 1.52. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The company’s 50-day moving average price is $40.74 and its 200-day moving average price is $42.72. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9,241,140 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business’s revenue was up 3.3% on a year-over-year basis. During the same period last year, the company posted $0.86 EPS. On average, sell-side analysts forecast that Schlumberger Limited will post 3.34 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.68%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio is presently 35.37%.

Insiders Place Their Bets

In other news, insider Dianne B. Ralston sold 43,161 shares of the stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the sale, the insider now owns 235,024 shares of the company’s stock, valued at $10,331,655.04. This represents a 15.52 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the sale, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,258 shares of company stock valued at $8,732,604 in the last three months. 0.26% of the stock is currently owned by insiders.

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.