Associated Banc Corp Sells 2,454 Shares of Schlumberger Limited (NYSE:SLB)

Associated Banc Corp reduced its position in shares of Schlumberger Limited (NYSE:SLB) by 6.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,596 shares of the oil and gas company’s stock after selling 2,454 shares during the quarter. Associated Banc Corp’s holdings in Schlumberger were worth $1,480,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SLB. State Street Corp grew its stake in shares of Schlumberger by 0.6% in the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after acquiring an additional 528,279 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Schlumberger by 0.8% in the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock worth $1,195,290,000 after buying an additional 239,966 shares during the last quarter. First Eagle Investment Management LLC boosted its holdings in shares of Schlumberger by 1.2% in the fourth quarter. First Eagle Investment Management LLC now owns 27,836,555 shares of the oil and gas company’s stock worth $1,067,254,000 after buying an additional 343,261 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Schlumberger by 12,289.6% in the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock worth $500,082,000 after buying an additional 12,938,082 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Schlumberger by 20.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after buying an additional 1,916,851 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. JPMorgan Chase & Co. raised their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 price target on shares of Schlumberger in a report on Tuesday, January 21st. Piper Sandler initiated coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Wells Fargo & Company lowered their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Insider Buying and Selling at Schlumberger

In other news, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the sale, the vice president now directly owns 11,240 shares of the company’s stock, valued at approximately $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dianne B. Ralston sold 43,161 shares of the business’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the sale, the insider now directly owns 235,024 shares of the company’s stock, valued at $10,331,655.04. This represents a 15.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 290,772 shares of company stock worth $12,546,660 over the last quarter. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 2.9 %

Shares of SLB opened at $41.10 on Friday. The company’s fifty day moving average is $40.95 and its 200 day moving average is $41.49. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The stock has a market capitalization of $55.89 billion, a PE ratio of 13.21, a P/E/G ratio of 10.10 and a beta of 1.47. 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 (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 business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter in the previous year, the business posted $0.86 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. Sell-side analysts expect 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. This is a boost 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 dividend on an annualized basis and a yield of 2.77%. Schlumberger’s payout ratio is 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.