Kentucky Retirement Systems Reduces Holdings in Schlumberger Limited (NYSE:SLB)

Kentucky Retirement Systems lessened its holdings in Schlumberger Limited (NYSE:SLB) by 1.4% during the 4th quarter, Holdings Channel reports. The firm owned 97,581 shares of the oil and gas company’s stock after selling 1,344 shares during the quarter. Kentucky Retirement Systems’ holdings in Schlumberger were worth $3,741,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SLB. Cromwell Holdings LLC grew its holdings in Schlumberger by 7.0% during the 4th quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock valued at $167,000 after buying an additional 283 shares during the last quarter. Capital Investment Counsel Inc boosted its stake in shares of Schlumberger by 22.3% during the fourth quarter. Capital Investment Counsel Inc now owns 14,696 shares of the oil and gas company’s stock valued at $563,000 after acquiring an additional 2,675 shares during the last quarter. ING Groep NV increased its position in Schlumberger by 296.1% during the 4th quarter. ING Groep NV now owns 241,252 shares of the oil and gas company’s stock worth $9,250,000 after purchasing an additional 180,350 shares in the last quarter. Citizens National Bank Trust Department raised its stake in Schlumberger by 2.8% in the 4th quarter. Citizens National Bank Trust Department now owns 11,430 shares of the oil and gas company’s stock valued at $438,000 after purchasing an additional 315 shares during the last quarter. Finally, Hardy Reed LLC raised its position in shares of Schlumberger by 23.4% in the fourth quarter. Hardy Reed LLC now owns 7,000 shares of the oil and gas company’s stock valued at $268,000 after buying an additional 1,328 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Price Performance

Shares of SLB stock opened at $41.73 on Friday. The firm has a fifty day simple moving average of $40.20 and a 200-day simple moving average of $41.91. The company has a market capitalization of $58.45 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 10.00 and a beta of 1.51. Schlumberger Limited has a twelve month low of $36.52 and a twelve 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.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same period in the prior year, the company posted $0.86 EPS. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. Equities research analysts anticipate 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. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.73%. Schlumberger’s payout ratio is currently 36.66%.

Analyst Ratings Changes

Several research firms recently weighed in on SLB. Jefferies Financial Group reduced their target price on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. BMO Capital Markets dropped their price target on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. TD Cowen lifted their price target on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Insider Buying and Selling at Schlumberger

In other news, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction dated 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the sale, the insider now 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 disclosure for this sale can be found here. Insiders have sold a total of 263,782 shares of company stock valued at $11,442,229 in the last three months. Corporate insiders own 0.26% of the company’s stock.

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.