Greenland Capital Management LP Sells 5,903 Shares of Schlumberger Limited (NYSE:SLB)

Greenland Capital Management LP decreased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 48.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,164 shares of the oil and gas company’s stock after selling 5,903 shares during the quarter. Greenland Capital Management LP’s holdings in Schlumberger were worth $236,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. YANKCOM Partnership bought a new position in Schlumberger in the 4th quarter valued at $31,000. Stonebridge Financial Group LLC bought a new position in shares of Schlumberger in the fourth quarter worth about $32,000. Golden State Wealth Management LLC bought a new position in shares of Schlumberger in the fourth quarter worth about $34,000. Hager Investment Management Services LLC bought a new stake in Schlumberger during the 4th quarter valued at about $38,000. Finally, Bogart Wealth LLC boosted its position in Schlumberger by 468.9% in the 4th quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 844 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In other Schlumberger news, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction that occurred 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 in the company, valued at approximately $496,808. The trade was a 38.38 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the completion of the sale, the executive vice president now directly owns 210,502 shares in the company, valued at $8,723,202.88. This trade represents a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 315,905 shares of company stock valued at $13,609,283. 0.26% of the stock is owned by company insiders.

Schlumberger Price Performance

Shares of SLB stock opened at $31.98 on Wednesday. Schlumberger Limited has a fifty-two week low of $31.42 and a fifty-two week high of $54.63. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The firm has a market capitalization of $43.48 billion, a price-to-earnings ratio of 10.28, a PEG ratio of 10.10 and a beta of 1.11. The stock’s 50-day simple moving average is $40.47 and its 200-day simple moving average is $41.24.

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, 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 analyst estimates of $9.24 billion. During the same quarter in the prior year, the business posted $0.86 EPS. Schlumberger’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th were paid a $0.285 dividend. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend was Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a yield of 3.57%. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Analyst Ratings Changes

A number of equities analysts have recently commented on SLB shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research report on Tuesday, January 21st. Barclays decreased their target price on Schlumberger from $54.00 to $53.00 and set an “overweight” rating for the company in a research report on Monday, March 31st. Jefferies Financial Group dropped their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. TD Cowen upped their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Finally, JPMorgan Chase & Co. raised their target price on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $54.68.

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.