AGF Management Ltd. Decreases Stake in Schlumberger Limited (NYSE:SLB)

AGF Management Ltd. decreased its position in shares of Schlumberger Limited (NYSE:SLB) by 83.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 431,465 shares of the oil and gas company’s stock after selling 2,157,019 shares during the period. AGF Management Ltd.’s holdings in Schlumberger were worth $16,542,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SLB. Prospera Private Wealth LLC acquired a new stake in Schlumberger in the 3rd quarter valued at $29,000. YANKCOM Partnership bought a new position in Schlumberger during the 4th quarter valued at $31,000. Stonebridge Financial Group LLC bought a new position in Schlumberger during the 4th quarter valued at $32,000. Golden State Wealth Management LLC bought a new position in shares of Schlumberger in the 4th quarter worth about $34,000. Finally, Ashton Thomas Securities LLC bought a new stake in Schlumberger in the 3rd quarter valued at about $37,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In related news, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the transaction, the insider now owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the sale, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 290,772 shares of company stock worth $12,546,660 in the last ninety days. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on SLB shares. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. BMO Capital Markets dropped their target price on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Evercore ISI reissued an “in-line” rating and issued a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. JPMorgan Chase & Co. boosted their price target on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Finally, Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Stock Down 2.6 %

SLB stock opened at $40.09 on Wednesday. The business’s 50-day moving average is $40.83 and its two-hundred day moving average is $41.57. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The company has a market cap of $54.51 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter last year, the business posted $0.86 EPS. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.84%. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

Schlumberger Company 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.