Schlumberger Limited (NYSE:SLB) Shares Sold by Noesis Capital Mangement Corp

Noesis Capital Mangement Corp reduced its position in Schlumberger Limited (NYSE:SLB) by 9.1% in the 4th quarter, Holdings Channel reports. The firm owned 71,563 shares of the oil and gas company’s stock after selling 7,158 shares during the quarter. Noesis Capital Mangement Corp’s holdings in Schlumberger were worth $3,724,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BluePath Capital Management LLC purchased a new stake in shares of Schlumberger during the third quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Schlumberger in the 4th quarter valued at about $26,000. Janiczek Wealth Management LLC lifted its stake in Schlumberger by 1,180.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after purchasing an additional 602 shares in the last quarter. Pinnacle Bancorp Inc. boosted its holdings in shares of Schlumberger by 64.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 292 shares during the last quarter. Finally, Legacy Bridge LLC grew its position in shares of Schlumberger by 39.4% in the fourth quarter. Legacy Bridge LLC now owns 853 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 241 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SLB. HSBC reissued a “buy” rating and set a $71.00 price target on shares of Schlumberger in a research report on Thursday, April 4th. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Stifel Nicolaus reiterated a “buy” rating and issued a $64.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. TD Cowen reduced their target price on Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research report on Monday, April 22nd. Finally, Bank of America lowered their price target on Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a report on Monday, April 22nd. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.72.

Insider Buying and Selling at Schlumberger

In related news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the transaction, the chief financial officer now owns 242,932 shares in the company, valued at $11,816,212.48. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the completion of the transaction, the chief financial officer now directly owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 0.2 %

Shares of Schlumberger stock traded up $0.08 during trading hours on Friday, reaching $47.66. 11,007,407 shares of the company were exchanged, compared to its average volume of 9,961,223. The firm has a market cap of $68.12 billion, a PE ratio of 15.83, a PEG ratio of 0.92 and a beta of 1.64. The stock’s fifty day moving average is $51.63 and its 200 day moving average is $51.79. Schlumberger Limited has a 1 year low of $42.73 and a 1 year high of $62.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same quarter last year, the company earned $0.63 EPS. Schlumberger’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, equities research analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Wednesday, June 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is 36.54%.

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.