Spinnaker Trust Sells 3,911 Shares of Schlumberger Limited (NYSE:SLB)

Spinnaker Trust lowered its stake in shares of Schlumberger Limited (NYSE:SLB) by 14.1% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 23,896 shares of the oil and gas company’s stock after selling 3,911 shares during the quarter. Spinnaker Trust’s holdings in Schlumberger were worth $916,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in SLB. Prospera Private Wealth LLC bought a new position in Schlumberger during the third quarter worth about $29,000. YANKCOM Partnership bought a new position in Schlumberger during the fourth quarter worth about $31,000. Stonebridge Financial Group LLC bought a new position in Schlumberger during the fourth quarter worth about $32,000. Ashton Thomas Securities LLC bought a new position in Schlumberger during the third quarter worth about $37,000. Finally, Golden State Wealth Management LLC bought a new position in Schlumberger during the fourth quarter worth about $34,000. Institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on SLB shares. Evercore ISI reiterated an “in-line” rating and set a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. TD Cowen increased their price target on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Susquehanna lowered their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Finally, Citigroup increased their price target on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the sale, the insider now directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. This trade represents a 15.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction 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 directly owns 49,595 shares in the company, 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. Over the last 90 days, insiders sold 263,782 shares of company stock valued at $11,442,229. 0.26% of the stock is currently owned by company insiders.

Schlumberger Trading Down 0.8 %

SLB stock opened at $41.75 on Friday. 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 one year low of $36.52 and a one year high of $55.69. The company has a market capitalization of $58.48 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 9.49 and a beta of 1.51. The company’s 50 day moving average price is $40.06 and its two-hundred day moving average price is $42.09.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 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 quarter last year, the business earned $0.86 earnings per share. As a group, analysts predict that Schlumberger Limited will post 3.38 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, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.73%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

About Schlumberger

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.