Schlumberger Limited (NYSE:SLB) Shares Sold by Congress Wealth Management LLC DE

Congress Wealth Management LLC DE cut its holdings in shares of Schlumberger Limited (NYSE:SLB) by 36.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,400 shares of the oil and gas company’s stock after selling 15,429 shares during the period. Congress Wealth Management LLC DE’s holdings in Schlumberger were worth $1,051,000 as of its most recent SEC filing.

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

Insider Activity

In other news, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total value of $5,427,346.73. Following the transaction, the executive vice president now directly owns 184,626 shares in the company, valued at approximately $8,140,160.34. The trade was a 40.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the transaction, the director now directly owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 290,772 shares of company stock worth $12,546,660. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SLB shares. Wells Fargo & Company cut their target price on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Citigroup raised their target price on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Jefferies Financial Group dropped their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research report on Thursday. Evercore ISI restated an “in-line” rating and issued a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Finally, Atb Cap Markets lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average target price of $55.69.

Schlumberger Stock Performance

Shares of SLB stock opened at $42.14 on Friday. 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. The stock has a market capitalization of $57.31 billion, a price-to-earnings ratio of 13.55, a PEG ratio of 10.10 and a beta of 1.47. The company’s 50-day simple moving average is $41.32 and its 200-day simple moving average is $41.43.

Schlumberger (NYSE:SLB) last issued its earnings results 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 for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the company earned $0.86 earnings per share. Equities 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. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. 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. This represents a $1.14 dividend on an annualized basis and a yield of 2.71%. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

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.