Schlumberger Limited (NYSE:SLB) Shares Sold by Heritage Investors Management Corp

Heritage Investors Management Corp cut its position in Schlumberger Limited (NYSE:SLB) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 165,787 shares of the oil and gas company’s stock after selling 1,685 shares during the quarter. Heritage Investors Management Corp’s holdings in Schlumberger were worth $8,628,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Hills Bank & Trust Co raised its holdings in shares of Schlumberger by 0.9% in the fourth quarter. Hills Bank & Trust Co now owns 33,688 shares of the oil and gas company’s stock valued at $1,753,000 after buying an additional 309 shares during the last quarter. SCP Investment LP raised its stake in Schlumberger by 136.4% during the 4th quarter. SCP Investment LP now owns 20,800 shares of the oil and gas company’s stock valued at $1,115,000 after acquiring an additional 12,000 shares during the last quarter. Wealthspire Advisors LLC lifted its position in Schlumberger by 22.5% during the 4th quarter. Wealthspire Advisors LLC now owns 5,600 shares of the oil and gas company’s stock worth $291,000 after acquiring an additional 1,027 shares during the period. National Pension Service grew its stake in shares of Schlumberger by 1.9% in the 4th quarter. National Pension Service now owns 2,298,736 shares of the oil and gas company’s stock valued at $119,626,000 after purchasing an additional 43,874 shares during the last quarter. Finally, Blume Capital Management Inc. increased its holdings in shares of Schlumberger by 7.6% in the fourth quarter. Blume Capital Management Inc. now owns 40,023 shares of the oil and gas company’s stock valued at $2,083,000 after purchasing an additional 2,813 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of Schlumberger stock traded up $0.63 on Thursday, hitting $48.50. The company’s stock had a trading volume of 6,366,987 shares, compared to its average volume of 11,019,676. The company has a market capitalization of $69.32 billion, a P/E ratio of 16.11, a price-to-earnings-growth ratio of 0.92 and a beta of 1.64. Schlumberger Limited has a 52-week low of $42.73 and a 52-week high of $62.12. The firm has a fifty day moving average price of $51.61 and a 200-day moving average price of $51.49. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) 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 company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter in the prior year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities research analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.27%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 completion of the sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. HSBC reiterated a “buy” rating and issued a $71.00 price objective on shares of Schlumberger in a research report on Thursday, April 4th. Barclays dropped their price target on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. Susquehanna restated a “positive” rating and issued a $77.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. BMO Capital Markets lowered their price objective on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a report 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. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus price target of $68.72.

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.