Kanawha Capital Management LLC Cuts Stock Holdings in Schlumberger Limited (NYSE:SLB)

Kanawha Capital Management LLC reduced its position in shares of Schlumberger Limited (NYSE:SLB) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 49,864 shares of the oil and gas company’s stock after selling 1,982 shares during the period. Kanawha Capital Management LLC’s holdings in Schlumberger were worth $1,912,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Teachers Retirement System of The State of Kentucky increased its stake in shares of Schlumberger by 25.9% during 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 purchasing an additional 156,698 shares in the last quarter. Wilmington Savings Fund Society FSB lifted its holdings in shares of Schlumberger by 27.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after acquiring an additional 16,350 shares in the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Schlumberger by 8.7% during the 3rd quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after acquiring an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Schlumberger by 269.1% during the 3rd quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock valued at $827,000 after acquiring an additional 14,376 shares in the last quarter. Finally, Los Angeles Capital Management LLC increased its stake in Schlumberger by 26.0% during 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 during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SLB has been the subject of several research analyst reports. Stifel Nicolaus dropped their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Piper Sandler began coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. BMO Capital Markets reduced their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. JPMorgan Chase & Co. upped their price target on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 21st. Finally, Barclays reduced their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Stock Performance

NYSE SLB opened at $42.07 on Friday. The company has a fifty day simple moving average of $40.06 and a 200 day simple moving average of $42.09. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company has a market cap of $58.94 billion, a P/E ratio of 13.53, a PEG ratio of 9.49 and a beta of 1.51.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. During the same period in the previous year, the business posted $0.86 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. Sell-side analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm 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 of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.71%. Schlumberger’s payout ratio is presently 36.66%.

Insider Buying and Selling

In other news, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 11,240 shares of the company’s stock, valued at $496,808. This represents a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction dated Friday, January 31st. The shares were 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 directly owns 30,829 shares in the company, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 263,782 shares of company stock worth $11,442,229 in the last quarter. 0.26% of the stock is owned by insiders.

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.