Lathrop Investment Management Corp Sells 10,773 Shares of Schlumberger Limited (NYSE:SLB)

Lathrop Investment Management Corp lowered its stake in shares of Schlumberger Limited (NYSE:SLB) by 4.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 224,128 shares of the oil and gas company’s stock after selling 10,773 shares during the period. Schlumberger accounts for about 2.4% of Lathrop Investment Management Corp’s investment portfolio, making the stock its 20th largest position. Lathrop Investment Management Corp’s holdings in Schlumberger were worth $11,664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Highland Capital Management LLC increased its position in Schlumberger by 2,494.0% in the fourth quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock worth $5,278,000 after purchasing an additional 97,516 shares during the last quarter. Guinness Asset Management LTD increased its position in Schlumberger by 0.3% in the third quarter. Guinness Asset Management LTD now owns 331,309 shares of the oil and gas company’s stock worth $19,468,000 after purchasing an additional 965 shares during the last quarter. Nordea Investment Management AB increased its position in Schlumberger by 36.4% in the fourth quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock worth $74,080,000 after purchasing an additional 380,185 shares during the last quarter. Allworth Financial LP increased its position in Schlumberger by 3.8% in the third quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock worth $324,000 after purchasing an additional 206 shares during the last quarter. Finally, Asset Management One Co. Ltd. increased its position in Schlumberger by 6.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock worth $31,726,000 after purchasing an additional 35,763 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Activity at Schlumberger

In related news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the sale, the chief financial officer now owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the sale, the chief financial officer now directly owns 249,182 shares in the company, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. In the last quarter, insiders have sold 90,545 shares of company stock valued at $4,458,430. 0.26% of the stock is owned by company insiders.

Schlumberger Stock Performance

Shares of NYSE:SLB traded down $0.24 during trading on Friday, hitting $49.20. 8,250,858 shares of the stock traded hands, compared to its average volume of 9,808,635. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The company has a market cap of $70.32 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 0.95 and a beta of 1.60. The company has a fifty day moving average price of $51.74 and a two-hundred day moving average price of $52.17. Schlumberger Limited has a 52-week low of $42.73 and a 52-week high of $62.12.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, meeting the consensus estimate of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. During the same period in the previous year, the firm earned $0.63 EPS. The business’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, equities analysts predict that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a $0.275 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.24%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. HSBC restated a “buy” rating and issued a $71.00 price target on shares of Schlumberger in a research report on Thursday, April 4th. TD Cowen reduced their target price on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. BMO Capital Markets reduced their target price on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Susquehanna reissued a “positive” rating and issued a $77.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.67.

Schlumberger 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.