Schlumberger Limited (NYSE:SLB) Shares Sold by Islay Capital Management LLC

Islay Capital Management LLC lessened its position in shares of Schlumberger Limited (NYSE:SLB) by 97.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 545 shares of the oil and gas company’s stock after selling 18,319 shares during the period. Islay Capital Management LLC’s holdings in Schlumberger were worth $28,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its holdings in shares of Schlumberger by 3,008.8% during the 3rd quarter. Exchange Traded Concepts LLC now owns 6,031 shares of the oil and gas company’s stock valued at $352,000 after acquiring an additional 5,837 shares in the last quarter. PDS Planning Inc acquired a new position in shares of Schlumberger during the third quarter worth about $227,000. Sheets Smith Wealth Management boosted its position in shares of Schlumberger by 23.9% in the third quarter. Sheets Smith Wealth Management now owns 9,847 shares of the oil and gas company’s stock worth $574,000 after buying an additional 1,900 shares during the period. Atlas Private Wealth Management grew its stake in shares of Schlumberger by 6.3% in the third quarter. Atlas Private Wealth Management now owns 18,068 shares of the oil and gas company’s stock valued at $1,053,000 after buying an additional 1,076 shares in the last quarter. Finally, Accurate Wealth Management LLC purchased a new stake in shares of Schlumberger during the 3rd quarter valued at about $228,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Price Performance

Shares of SLB stock traded down $1.03 during mid-day trading on Tuesday, hitting $48.18. 7,133,782 shares of the stock traded hands, compared to its average volume of 11,106,818. The company’s 50-day simple moving average is $51.75 and its 200-day simple moving average is $52.02. 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 Limited has a twelve month low of $42.73 and a twelve month high of $62.12. The firm has a market cap of $68.87 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting the consensus estimate of $0.75. The business 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%. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.63 EPS. As a group, equities research analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be paid a dividend of $0.275 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 annualized dividend and a dividend yield of 2.28%. Schlumberger’s dividend payout ratio is 36.54%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Barclays dropped their price objective on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. Bank of America decreased their price objective on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. BMO Capital Markets dropped their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Finally, Benchmark reiterated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.72.

Insider Activity

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now directly owns 242,932 shares in the company, valued at $11,816,212.48. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the transaction, the chief financial officer now owns 242,932 shares in the company, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,295 shares of company stock worth $3,707,595. 0.26% of the stock is owned by corporate insiders.

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.