TCTC Holdings LLC Sells 359 Shares of Schlumberger Limited (NYSE:SLB)

TCTC Holdings LLC cut its stake in shares of Schlumberger Limited (NYSE:SLB) by 1.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 37,089 shares of the oil and gas company’s stock after selling 359 shares during the quarter. TCTC Holdings LLC’s holdings in Schlumberger were worth $1,422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. State Street Corp lifted its position in Schlumberger by 0.6% during the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after purchasing an additional 528,279 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Schlumberger by 0.8% in the 3rd 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 acquiring an additional 239,966 shares during the last quarter. First Eagle Investment Management LLC lifted its holdings in shares of Schlumberger by 1.2% in the 4th 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 acquiring an additional 343,261 shares during the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Schlumberger by 12,289.6% in the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock worth $500,082,000 after acquiring an additional 12,938,082 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Schlumberger by 20.6% in the 3rd 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 acquiring an additional 1,916,851 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Insider Activity at Schlumberger

In related news, 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 transaction of $223,224.84. Following the sale, the insider now directly owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gavin Rennick sold 26,990 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the sale, the insider now directly owns 53,584 shares in the company, valued at $2,192,657.28. This trade represents a 33.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 290,772 shares of company stock valued at $12,546,660. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus lowered their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. TD Cowen boosted their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Citigroup lifted their target price on shares of Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. lifted their target price 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. 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $55.81.

Schlumberger Stock Up 2.9 %

Shares of Schlumberger stock opened at $41.10 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company has a 50-day moving average of $40.95 and a 200 day moving average of $41.48. The firm has a market cap of $55.89 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69.

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

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend 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 dividend payout ratio (DPR) is presently 36.66%.

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.