Court Place Advisors LLC Sells 1,040 Shares of Schlumberger Limited (NYSE:SLB)

Court Place Advisors LLC cut its holdings in Schlumberger Limited (NYSE:SLB) by 15.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,897 shares of the oil and gas company’s stock after selling 1,040 shares during the period. Court Place Advisors LLC’s holdings in Schlumberger were worth $226,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake in Schlumberger by 26.4% during the second quarter. AQR Capital Management LLC now owns 557,533 shares of the oil and gas company’s stock valued at $26,210,000 after acquiring an additional 116,284 shares in the last quarter. APG Asset Management N.V. boosted its holdings in shares of Schlumberger by 8.4% during the 2nd quarter. APG Asset Management N.V. now owns 150,796 shares of the oil and gas company’s stock valued at $6,638,000 after purchasing an additional 11,735 shares during the last quarter. Ascent Group LLC grew its position in shares of Schlumberger by 7.7% during the second quarter. Ascent Group LLC now owns 20,544 shares of the oil and gas company’s stock valued at $969,000 after purchasing an additional 1,469 shares in the last quarter. Creative Planning increased its holdings in shares of Schlumberger by 51.2% in the second quarter. Creative Planning now owns 263,407 shares of the oil and gas company’s stock worth $12,428,000 after purchasing an additional 89,226 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of Schlumberger by 89.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 132,062 shares of the oil and gas company’s stock worth $6,231,000 after buying an additional 62,466 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Up 0.7 %

NYSE:SLB opened at $42.55 on Tuesday. The company’s 50-day simple moving average is $40.74 and its 200-day simple moving average is $42.72. 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 Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69. The stock has a market capitalization of $60.08 billion, a P/E ratio of 13.68, a P/E/G ratio of 9.98 and a beta of 1.52.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9,241,140 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm earned $0.86 earnings per share. On average, equities analysts anticipate that Schlumberger Limited will post 3.34 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a dividend of $0.285 per share. This represents a $1.14 annualized dividend and a yield of 2.68%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s payout ratio is 35.37%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SLB. Citigroup lifted their price objective on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Tuesday, January 21st. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. JPMorgan Chase & Co. increased their price objective on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Bank of America reduced their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Finally, Piper Sandler began coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $55.81.

Insider Activity at Schlumberger

In other Schlumberger news, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction that occurred on 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 owns 49,595 shares in the company, valued at approximately $2,179,204.30. This represents a 33.51 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Mogharbel Khaled Al sold 123,097 shares of the firm’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the completion of the transaction, the executive vice president now directly owns 184,626 shares of the company’s stock, valued at approximately $8,140,160.34. This represents a 40.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 198,258 shares of company stock valued at $8,732,604 in the last ninety days. Corporate insiders own 0.26% of the company’s stock.

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.