Stratos Investment Management LLC Reduces Stock Holdings in Schlumberger Limited (NYSE:SLB)

Stratos Investment Management LLC lowered its position in Schlumberger Limited (NYSE:SLB) by 37.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 43,726 shares of the oil and gas company’s stock after selling 26,701 shares during the quarter. Stratos Investment Management LLC’s holdings in Schlumberger were worth $1,676,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. State Street Corp lifted its position in shares of Schlumberger by 0.6% during the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after purchasing an additional 528,279 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Schlumberger by 0.8% during the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock worth $1,195,290,000 after purchasing an additional 239,966 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Schlumberger by 12,289.6% during the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock worth $500,082,000 after purchasing an additional 12,938,082 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Schlumberger by 20.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock worth $470,425,000 after purchasing an additional 1,916,851 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Schlumberger by 0.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock worth $335,214,000 after purchasing an additional 31,718 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In related news, Director Vijay Kasibhatla sold 25,000 shares of the stock in a transaction on Tuesday, January 21st. The stock was 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 $2,179,204.30. This trade represents a 33.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction on Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the transaction, the insider now owns 30,829 shares of the company’s stock, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 263,782 shares of company stock valued at $11,442,229. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

SLB has been the topic of a number of recent research reports. Susquehanna cut their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Evercore ISI restated an “in-line” rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Royal Bank of Canada restated an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a research note on Tuesday, January 21st. Barclays cut 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. Finally, BMO Capital Markets cut their target price on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Stock Up 2.7 %

SLB opened at $41.23 on Wednesday. The firm has a 50 day moving average price of $40.42 and a 200 day moving average price of $42.43. The company has a market cap of $57.76 billion, a PE ratio of 13.26, a price-to-earnings-growth ratio of 9.55 and a beta of 1.51. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS 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 company had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. During the same period in the prior year, the business posted $0.86 EPS. The business’s revenue was up 3.3% on a year-over-year basis. Sell-side analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.76%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

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.