Schlumberger Limited (NYSE:SLB) Stake Lessened by First Merchants Corp

First Merchants Corp trimmed its stake in shares of Schlumberger Limited (NYSE:SLB) by 16.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 96,900 shares of the oil and gas company’s stock after selling 18,744 shares during the quarter. First Merchants Corp’s holdings in Schlumberger were worth $3,715,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. CX Institutional grew its position in Schlumberger by 2.4% in the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock worth $398,000 after buying an additional 244 shares during the last quarter. GM Advisory Group LLC grew its holdings in shares of Schlumberger by 3.8% in the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock worth $281,000 after acquiring an additional 247 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in shares of Schlumberger by 0.5% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock worth $2,174,000 after purchasing an additional 262 shares during the period. Cordatus Wealth Management LLC lifted its holdings in shares of Schlumberger by 2.1% during the third quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock valued at $561,000 after purchasing an additional 281 shares during the last quarter. Finally, OneDigital Investment Advisors LLC boosted its position in shares of Schlumberger by 0.7% in the 3rd quarter. OneDigital Investment Advisors LLC now owns 40,715 shares of the oil and gas company’s stock valued at $1,708,000 after purchasing an additional 284 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Up 1.5 %

SLB opened at $42.07 on Friday. The company has a market capitalization of $58.94 billion, a PE ratio of 13.53, a price-to-earnings-growth ratio of 9.49 and a beta of 1.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The business has a 50-day moving average of $40.06 and a 200-day moving average of $42.09.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data 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. The firm had revenue of $9.28 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 earnings per share. Equities research analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 2.71%. The ex-dividend date of this dividend is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is presently 36.66%.

Insider Buying and Selling

In related news, insider Bejar Carmen Rando sold 5,524 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the sale, the insider now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $41.44, for a total value of $2,486,400.00. Following the transaction, the executive vice president now owns 210,502 shares in the company, valued at approximately $8,723,202.88. This trade represents a 22.18 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 263,782 shares of company stock worth $11,442,229. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. BMO Capital Markets cut their price target on shares of Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Piper Sandler initiated coverage on shares of Schlumberger in a research report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Jefferies Financial Group lowered their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Finally, Wells Fargo & Company reduced their target price on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a report on Tuesday, December 17th. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger 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.