Schlumberger Limited (NYSE:SLB) Shares Sold by DnB Asset Management AS

DnB Asset Management AS decreased its position in shares of Schlumberger Limited (NYSE:SLB) by 8.5% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,259,458 shares of the oil and gas company’s stock after selling 117,498 shares during the quarter. DnB Asset Management AS’s holdings in Schlumberger were worth $48,288,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of SLB. YANKCOM Partnership bought a new position in Schlumberger in the 4th quarter worth about $31,000. Stonebridge Financial Group LLC acquired a new stake in Schlumberger in the 4th quarter valued at approximately $32,000. Golden State Wealth Management LLC bought a new stake in Schlumberger during the 4th quarter valued at $34,000. Hager Investment Management Services LLC acquired a new position in Schlumberger during the 4th quarter worth $38,000. Finally, Bogart Wealth LLC grew its stake in shares of Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 844 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $42.14 on Friday. The company’s fifty day moving average is $41.32 and its two-hundred day moving average is $41.43. The company has a market cap of $57.31 billion, a P/E ratio of 13.55, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a 12-month low of $36.52 and a 12-month 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 posted its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating 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 firm had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same period in the previous year, the firm earned $0.86 earnings per share. Schlumberger’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed 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 of this dividend is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.71%. Schlumberger’s payout ratio is presently 36.66%.

Wall Street Analysts Forecast Growth

SLB has been the subject of several research analyst reports. Barclays reduced their price objective on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Atb Cap Markets lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a research report on Friday, December 20th. Finally, Evercore ISI reiterated an “in-line” rating and set a $44.00 price target (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $55.69.

Insider Buying and Selling at Schlumberger

In other news, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the transaction, the vice president now directly owns 11,240 shares of the company’s stock, valued at approximately $496,808. This represents a 38.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction 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 sale, the director now directly owns 49,595 shares of the company’s stock, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 290,772 shares of company stock worth $12,546,660. 0.26% of the stock is currently owned by company insiders.

About Schlumberger

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.