Schlumberger Limited (NYSE:SLB) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA reduced its holdings in Schlumberger Limited (NYSE:SLB) by 57.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 422,300 shares of the oil and gas company’s stock after selling 575,000 shares during the quarter. Primecap Management Co. CA’s holdings in Schlumberger were worth $16,191,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. Delphi Management Inc. MA lifted its holdings in Schlumberger by 15.5% in the fourth quarter. Delphi Management Inc. MA now owns 35,334 shares of the oil and gas company’s stock valued at $1,355,000 after acquiring an additional 4,755 shares during the period. Aspen Wealth Strategies LLC lifted its stake in shares of Schlumberger by 19.4% in the fourth quarter. Aspen Wealth Strategies LLC now owns 16,881 shares of the oil and gas company’s stock valued at $647,000 after purchasing an additional 2,742 shares during the period. 1ST Source Bank lifted its stake in shares of Schlumberger by 3.2% in the fourth quarter. 1ST Source Bank now owns 10,885 shares of the oil and gas company’s stock valued at $417,000 after purchasing an additional 336 shares during the period. Cibc World Markets Corp grew its position in Schlumberger by 119.1% during the fourth quarter. Cibc World Markets Corp now owns 506,642 shares of the oil and gas company’s stock worth $19,425,000 after buying an additional 275,352 shares during the period. Finally, Creative Financial Designs Inc. ADV grew its position in Schlumberger by 4.2% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 11,034 shares of the oil and gas company’s stock worth $423,000 after buying an additional 440 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, insider Bejar Carmen Rando sold 5,524 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total transaction of $223,224.84. Following the completion of the sale, the insider now owns 30,829 shares in the company, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the firm’s stock in a transaction that occurred 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 owns 49,595 shares in the company, valued at $2,179,204.30. The trade was a 33.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 290,772 shares of company stock valued at $12,546,660. Insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

SLB stock opened at $41.00 on Thursday. The stock has a market capitalization of $55.75 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The stock’s fifty day simple moving average is $41.08 and its 200-day simple moving average is $41.43. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

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, topping 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 analyst estimates of $9.24 billion. During the same period last year, the company earned $0.86 EPS. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. Equities research analysts expect that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 2.78%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is presently 36.66%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Atb Cap Markets lowered Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. BMO Capital Markets lowered their target price on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Barclays cut their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Citigroup increased their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Finally, Stifel Nicolaus cut their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and an average 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.