CIBC Private Wealth Group LLC Lowers Holdings in Schlumberger Limited (NYSE:SLB)

CIBC Private Wealth Group LLC lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 104,282 shares of the oil and gas company’s stock after selling 1,001 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Schlumberger were worth $4,047,000 as of its most recent filing with the SEC.

Other hedge funds also recently made changes to their positions in the company. Captrust Financial Advisors boosted its holdings in Schlumberger by 20.3% in the 3rd quarter. Captrust Financial Advisors now owns 136,291 shares of the oil and gas company’s stock valued at $5,717,000 after purchasing an additional 23,005 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in shares of Schlumberger in the 3rd quarter valued at approximately $1,619,000. Atom Investors LP boosted its stake in shares of Schlumberger by 75.8% in the third quarter. Atom Investors LP now owns 12,983 shares of the oil and gas company’s stock valued at $545,000 after buying an additional 5,597 shares in the last quarter. Benjamin Edwards Inc. grew its holdings in Schlumberger by 315.2% during the third quarter. Benjamin Edwards Inc. now owns 32,673 shares of the oil and gas company’s stock worth $1,371,000 after acquiring an additional 24,803 shares during the period. Finally, Ascent Group LLC lifted its holdings in Schlumberger by 2.6% in the third quarter. Ascent Group LLC now owns 21,072 shares of the oil and gas company’s stock valued at $884,000 after acquiring an additional 528 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SLB. Piper Sandler initiated coverage on shares of Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Stifel Nicolaus dropped their target price on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Monday, December 23rd. BMO Capital Markets reduced their price target on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Royal Bank of Canada restated an “outperform” rating and issued a $57.00 price target on shares of Schlumberger in a report on Tuesday, January 21st. Finally, Citigroup lifted their price objective on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Six equities research analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and a consensus target price of $55.69.

Schlumberger Price Performance

NYSE:SLB opened at $42.11 on Wednesday. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.65. The firm has a market cap of $57.27 billion, a price-to-earnings ratio of 13.54, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. The company’s 50-day moving average is $41.22 and its two-hundred day moving average is $41.50. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

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

Schlumberger Increases Dividend

The firm also recently disclosed 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 is a boost 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 annualized dividend and a dividend yield of 2.71%. Schlumberger’s dividend payout ratio (DPR) is 36.66%.

Insider Activity

In other news, insider Aparna Raman sold 25,133 shares of the business’s stock in a transaction on Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following the completion of the sale, the insider now directly owns 31,031 shares of the company’s stock, valued at $1,311,990.68. The trade was a 44.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the stock in a transaction 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 transaction, the insider now directly owns 30,829 shares in the company, valued at $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 315,905 shares of company stock valued at $13,609,283 over the last quarter. Company insiders own 0.26% of the company’s stock.

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.