Wellington Management Group LLP Lowers Stock Position in Schlumberger Limited (NYSE:SLB)

Wellington Management Group LLP trimmed its position in Schlumberger Limited (NYSE:SLB) by 10.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,839,971 shares of the oil and gas company’s stock after selling 1,544,027 shares during the quarter. Wellington Management Group LLP owned about 0.94% of Schlumberger worth $492,284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Townsquare Capital LLC boosted its holdings in Schlumberger by 25.2% in the 3rd quarter. Townsquare Capital LLC now owns 37,094 shares of the oil and gas company’s stock worth $1,556,000 after buying an additional 7,464 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of Schlumberger by 92.3% in the third quarter. Rockefeller Capital Management L.P. now owns 414,618 shares of the oil and gas company’s stock valued at $17,406,000 after acquiring an additional 199,047 shares in the last quarter. Captrust Financial Advisors boosted its stake in shares of Schlumberger by 20.3% in the third quarter. Captrust Financial Advisors now owns 136,291 shares of the oil and gas company’s stock worth $5,717,000 after acquiring an additional 23,005 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of Schlumberger during the third quarter worth about $1,619,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Schlumberger during the 3rd quarter valued at approximately $645,000. Institutional investors own 81.99% of the company’s stock.

Insider Activity

In related news, insider Dianne B. Ralston sold 43,161 shares of Schlumberger 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 completion of the sale, the insider now owns 235,024 shares in the company, valued at $10,331,655.04. This trade represents a 15.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the transaction, the director now owns 49,595 shares in the company, valued at $2,179,204.30. This represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 290,772 shares of company stock valued at $12,546,660. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on SLB shares. Piper Sandler assumed coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. BMO Capital Markets cut their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Wells Fargo & Company decreased their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Tuesday, December 17th. Stifel Nicolaus cut their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Finally, TD Cowen boosted their target price on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. 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 stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $55.69.

Schlumberger Price Performance

SLB stock opened at $41.83 on Tuesday. 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 Limited has a 12 month low of $36.52 and a 12 month high of $55.65. The stock has a market cap of $56.89 billion, a PE ratio of 13.45, a P/E/G ratio of 10.10 and a beta of 1.47. The company has a 50-day moving average price of $41.25 and a 200 day moving average price of $41.48.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating 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 firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. During the same quarter in the prior year, the firm posted $0.86 earnings per share. The company’s quarterly revenue 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 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 annualized dividend and a dividend yield of 2.73%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is 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.