Concurrent Investment Advisors LLC Sells 7,645 Shares of Schlumberger Limited (NYSE:SLB)

Concurrent Investment Advisors LLC lowered its holdings in shares of Schlumberger Limited (NYSE:SLB) by 38.8% during the 4th quarter, HoldingsChannel reports. The fund owned 12,073 shares of the oil and gas company’s stock after selling 7,645 shares during the period. Concurrent Investment Advisors LLC’s holdings in Schlumberger were worth $463,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Prospera Private Wealth LLC bought a new position in shares of Schlumberger in the third quarter worth approximately $29,000. YANKCOM Partnership bought a new position in shares of Schlumberger in the fourth quarter worth approximately $31,000. Stonebridge Financial Group LLC bought a new position in shares of Schlumberger in the fourth quarter worth approximately $32,000. Golden State Wealth Management LLC bought a new position in shares of Schlumberger in the fourth quarter worth approximately $34,000. Finally, Ashton Thomas Securities LLC bought a new position in shares of Schlumberger in the third quarter worth approximately $37,000. Institutional investors own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In related news, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction on Tuesday, January 21st. The shares were 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 directly owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total transaction of $223,224.84. Following the transaction, the insider now directly owns 30,829 shares of the company’s stock, valued at $1,245,799.89. The trade was a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock valued at $11,442,229 over the last three months. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.5 %

Shares of SLB stock opened at $41.51 on Tuesday. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The stock has a market cap of $56.45 billion, a P/E ratio of 13.35, a P/E/G ratio of 10.10 and a beta of 1.51. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The company has a 50 day simple moving average of $40.23 and a two-hundred day simple moving average of $41.87.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.86 earnings per share. On average, research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.75%. Schlumberger’s dividend payout ratio is 36.66%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. TD Cowen upped their target price 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. Barclays dropped their target price on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday, December 18th. Wells Fargo & Company lowered their price objective on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Tuesday, December 17th. Finally, Piper Sandler initiated coverage on shares of Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective on the stock. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

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.