Daymark Wealth Partners LLC Sells 4,579 Shares of Schlumberger Limited (NYSE:SLB)

Daymark Wealth Partners LLC trimmed its position in Schlumberger Limited (NYSE:SLB) by 31.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,871 shares of the oil and gas company’s stock after selling 4,579 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Schlumberger were worth $378,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Teachers Retirement System of The State of Kentucky increased its stake in Schlumberger by 25.9% in 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 acquiring an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB increased its position in Schlumberger by 27.0% in 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 purchasing an additional 16,350 shares during the last quarter. Victory Capital Management Inc. raised its stake 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 purchasing an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in Schlumberger by 269.1% during 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 purchasing an additional 14,376 shares during the last quarter. Finally, Los Angeles Capital Management LLC grew its stake in shares of 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 buying an additional 63,413 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Schlumberger

In related news, 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 completion of the transaction, the director now directly owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the sale, the vice president now directly owns 11,240 shares in the company, valued at approximately $496,808. This represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 198,258 shares of company stock worth $8,732,604. 0.26% of the stock is owned by insiders.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $41.99 on Friday. The company has a 50-day simple moving average of $40.79 and a two-hundred day simple moving average of $42.79. 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 $59.29 billion, a PE ratio of 13.50, a P/E/G ratio of 3.58 and a beta of 1.52.

Schlumberger (NYSE:SLB) last announced its 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. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9,241,140 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.86 earnings per share. Research analysts expect that Schlumberger Limited will post 3.33 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.72%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio is currently 35.37%.

Analyst Ratings Changes

A number of brokerages recently commented on SLB. Susquehanna lowered their price target on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Piper Sandler assumed coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price for the company. TD Cowen increased their price target on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Finally, Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Six equities research 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’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $55.81.

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.