Elo Mutual Pension Insurance Co Sells 6,269 Shares of Schlumberger Limited (NYSE:SLB)

Elo Mutual Pension Insurance Co trimmed its holdings in Schlumberger Limited (NYSE:SLB) by 4.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 129,572 shares of the oil and gas company’s stock after selling 6,269 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Schlumberger were worth $4,968,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Artisan Partners Limited Partnership boosted its holdings in Schlumberger by 29.4% in the fourth quarter. Artisan Partners Limited Partnership now owns 3,258,919 shares of the oil and gas company’s stock worth $124,947,000 after purchasing an additional 740,127 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Schlumberger by 6.5% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,343,805 shares of the oil and gas company’s stock worth $90,447,000 after buying an additional 144,031 shares during the last quarter. Banco BTG Pactual S.A. lifted its position in shares of Schlumberger by 27.4% in the fourth quarter. Banco BTG Pactual S.A. now owns 25,495 shares of the oil and gas company’s stock worth $979,000 after buying an additional 5,480 shares during the last quarter. Financial Engines Advisors L.L.C. acquired a new position in shares of Schlumberger during the 4th quarter valued at about $218,000. Finally, Penobscot Investment Management Company Inc. bought a new position in shares of Schlumberger in the 4th quarter valued at approximately $914,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity at Schlumberger

In other news, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the transaction, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was 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, EVP Mogharbel Khaled Al sold 123,097 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the completion of the transaction, the executive vice president now directly owns 184,626 shares in the company, valued at $8,140,160.34. The trade was a 40.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 290,772 shares of company stock valued at $12,546,660 in the last ninety days. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Griffin Securities lowered shares of Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Jefferies Financial Group 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 Thursday. Piper Sandler assumed coverage on Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target on the stock. Finally, Barclays cut their price objective on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research report on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus target price of $55.69.

Schlumberger Stock Down 0.7 %

Shares of SLB opened at $42.14 on Friday. 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 $57.31 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 10.10 and a beta of 1.47. The company has a 50-day moving average price of $41.32 and a two-hundred day moving average price of $41.43. 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 posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same quarter last year, the company earned $0.86 EPS. Schlumberger’s revenue was up 3.3% on a year-over-year basis. Equities analysts predict that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a dividend of $0.285 per share. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.71%. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

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.