Schlumberger Limited (NYSE:SLB) Shares Sold by Glenview Trust co

Glenview Trust co lowered its holdings in shares of Schlumberger Limited (NYSE:SLB) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,437 shares of the oil and gas company’s stock after selling 1,835 shares during the period. Glenview Trust co’s holdings in Schlumberger were worth $2,087,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. CX Institutional raised its stake in shares of Schlumberger by 2.4% during the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock worth $398,000 after purchasing an additional 244 shares during the last quarter. GM Advisory Group LLC raised its position in Schlumberger by 3.8% during the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock worth $281,000 after buying an additional 247 shares during the last quarter. TCW Group Inc. lifted its stake in shares of Schlumberger by 1.3% in the 4th quarter. TCW Group Inc. now owns 19,797 shares of the oil and gas company’s stock worth $759,000 after acquiring an additional 259 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Schlumberger by 0.5% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock valued at $2,174,000 after acquiring an additional 262 shares in the last quarter. Finally, Cromwell Holdings LLC increased its stake in shares of Schlumberger by 7.0% during the fourth quarter. Cromwell Holdings LLC now owns 4,350 shares of the oil and gas company’s stock worth $167,000 after acquiring an additional 283 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

Schlumberger stock opened at $41.10 on Monday. The firm has a market capitalization of $55.89 billion, a PE ratio of 13.21, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The stock’s 50 day moving average price is $40.95 and its 200 day moving average price is $41.48. 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 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. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 earnings per share. As a group, sell-side analysts expect that Schlumberger Limited will post 3.38 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. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.77%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s payout ratio is presently 36.66%.

Analysts Set New Price Targets

A number of brokerages recently commented on SLB. JPMorgan Chase & Co. lifted their price objective on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Jefferies Financial Group decreased their price target on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Wells Fargo & Company cut their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. Piper Sandler initiated coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 target price on the stock. Finally, Evercore ISI reiterated an “in-line” rating and issued a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $55.81.

Insider Buying and Selling

In other news, insider Dianne B. Ralston sold 43,161 shares of the stock in a transaction dated 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 transaction, the insider now owns 235,024 shares of the company’s stock, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total value of $1,104,430.80. Following the sale, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. The trade was a 33.50 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 290,772 shares of company stock worth $12,546,660. 0.26% of the stock is currently 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.