Schlumberger Limited (NYSE:SLB) Stock Position Lessened by Parallel Advisors LLC

Parallel Advisors LLC decreased its holdings in Schlumberger Limited (NYSE:SLB) by 16.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 24,783 shares of the oil and gas company’s stock after selling 4,775 shares during the quarter. Parallel Advisors LLC’s holdings in Schlumberger were worth $950,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Cibc World Markets Corp lifted its holdings in shares of Schlumberger by 119.1% in the fourth quarter. Cibc World Markets Corp now owns 506,642 shares of the oil and gas company’s stock valued at $19,425,000 after buying an additional 275,352 shares during the period. Creative Financial Designs Inc. ADV lifted its holdings in shares of Schlumberger by 4.2% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 11,034 shares of the oil and gas company’s stock valued at $423,000 after buying an additional 440 shares during the period. Van Hulzen Asset Management LLC acquired a new stake in shares of Schlumberger in the fourth quarter valued at $12,898,000. Gallacher Capital Management LLC lifted its holdings in shares of Schlumberger by 12.9% in the fourth quarter. Gallacher Capital Management LLC now owns 16,156 shares of the oil and gas company’s stock valued at $619,000 after buying an additional 1,841 shares during the period. Finally, Patten & Patten Inc. TN acquired a new stake in shares of Schlumberger in the fourth quarter valued at $322,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In related news, insider Gavin Rennick sold 26,990 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the sale, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. This represents a 33.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the 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 sale, the director now owns 49,595 shares of the company’s stock, 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. In the last quarter, insiders have sold 290,772 shares of company stock valued at $12,546,660. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on SLB shares. Evercore ISI restated an “in-line” rating and issued a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. BMO Capital Markets reduced their target price on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. TD Cowen upped their target price on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, Barclays reduced their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Stock Performance

Shares of SLB stock opened at $41.00 on Thursday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The stock’s 50-day moving average is $41.08 and its two-hundred day moving average is $41.43. The firm has a market cap of $55.75 billion, a P/E ratio of 13.18, a PEG ratio of 10.10 and a beta of 1.47.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating 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 $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 EPS. Analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.78%. Schlumberger’s dividend payout ratio is currently 36.66%.

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.