Schlumberger Limited (NYSE:SLB) Position Reduced by Flossbach Von Storch SE

Flossbach Von Storch SE cut its position in shares of Schlumberger Limited (NYSE:SLB) by 27.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 310,735 shares of the oil and gas company’s stock after selling 119,114 shares during the quarter. Flossbach Von Storch SE’s holdings in Schlumberger were worth $11,914,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SLB. Pacer Advisors Inc. lifted its position in shares of Schlumberger by 12,289.6% in 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% in 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. Scharf Investments LLC purchased a new stake in shares of Schlumberger in the fourth quarter worth approximately $52,607,000. Van ECK Associates Corp lifted its position in shares of Schlumberger by 12.7% in the fourth quarter. Van ECK Associates Corp now owns 8,103,715 shares of the oil and gas company’s stock worth $310,696,000 after purchasing an additional 915,925 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new stake in shares of Schlumberger in the third quarter worth approximately $37,322,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the sale, the executive vice president now directly owns 210,502 shares of the company’s stock, valued at $8,723,202.88. This represents a 22.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. This trade represents a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock valued at $11,442,229 in the last ninety days. 0.26% of the stock is owned by insiders.

Schlumberger Stock Performance

Schlumberger stock opened at $42.19 on Thursday. The stock has a 50-day simple moving average of $40.14 and a 200 day simple moving average of $41.92. 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 Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The stock has a market capitalization of $59.10 billion, a price-to-earnings ratio of 13.56, a P/E/G ratio of 10.11 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 EPS. On average, research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is currently 36.66%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on SLB. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Citigroup increased their price target on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. JPMorgan Chase & Co. increased their price target on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Jefferies Financial Group lowered their price target on Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. Finally, TD Cowen increased their price target on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Six equities research 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.com, the stock has an average rating of “Moderate Buy” and a consensus 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.