Schlumberger Limited (NYSE:SLB) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust cut its holdings in Schlumberger Limited (NYSE:SLB) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,104 shares of the oil and gas company’s stock after selling 349 shares during the quarter. FineMark National Bank & Trust’s holdings in Schlumberger were worth $541,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in SLB. Teachers Retirement System of The State of Kentucky grew its position in Schlumberger by 25.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock valued at $31,961,000 after buying an additional 156,698 shares during the last quarter. Wilmington Savings Fund Society FSB boosted its holdings in shares of Schlumberger by 27.0% in the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after acquiring an additional 16,350 shares in the last quarter. Bryn Mawr Capital Management LLC increased its stake in shares of Schlumberger by 502.6% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company’s stock worth $7,592,000 after acquiring an additional 165,162 shares during the period. Narwhal Capital Management raised its holdings in Schlumberger by 225.5% during the fourth quarter. Narwhal Capital Management now owns 74,645 shares of the oil and gas company’s stock worth $2,862,000 after purchasing an additional 51,715 shares in the last quarter. Finally, Czech National Bank lifted its position in Schlumberger by 5.8% in the fourth quarter. Czech National Bank now owns 306,183 shares of the oil and gas company’s stock valued at $11,739,000 after purchasing an additional 16,914 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Performance

Shares of SLB stock opened at $42.39 on Thursday. The firm has a market capitalization of $57.64 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The company has a 50 day moving average price of $41.30 and a 200 day moving average price of $41.43. Schlumberger Limited has a one year low of $36.52 and a one 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 issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business 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 revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.86 EPS. Sell-side analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a $0.285 dividend. The ex-dividend date is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.69%. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Evercore ISI reiterated an “in-line” rating and set a $44.00 target price (down previously from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. TD Cowen upped their price objective on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Stifel Nicolaus reduced their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. JPMorgan Chase & Co. boosted their target price on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Finally, Citigroup increased their price target on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Six 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. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $55.81.

Insider Buying and Selling

In related news, insider Gavin Rennick sold 26,990 shares of the firm’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the sale, the insider now directly owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. This trade represents a 33.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $223,224.84. Following the completion of the transaction, the insider now directly owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. The trade was a 15.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 290,772 shares of company stock valued at $12,546,660. Corporate insiders own 0.26% of the company’s stock.

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.