Todd Asset Management LLC Cuts Position in Schlumberger Limited (NYSE:SLB)

Todd Asset Management LLC reduced its stake in shares of Schlumberger Limited (NYSE:SLB) by 2.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,526,946 shares of the oil and gas company’s stock after selling 39,810 shares during the quarter. Schlumberger comprises approximately 1.8% of Todd Asset Management LLC’s holdings, making the stock its 4th largest position. Todd Asset Management LLC owned 0.11% of Schlumberger worth $79,462,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SLB. BluePath Capital Management LLC acquired a new position in Schlumberger during the 3rd quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Schlumberger in the fourth quarter worth about $26,000. Janiczek Wealth Management LLC grew its position 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 valued at $34,000 after buying an additional 602 shares in the last quarter. Pinnacle Bancorp Inc. increased its stake in Schlumberger by 64.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after buying an additional 292 shares during the period. Finally, Legacy Bridge LLC raised its position in shares of Schlumberger by 39.4% during the 4th quarter. Legacy Bridge LLC now owns 853 shares of the oil and gas company’s stock worth $44,000 after buying an additional 241 shares in the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Schlumberger Stock Performance

Shares of Schlumberger stock traded up $0.08 during trading on Friday, reaching $47.66. The company’s stock had a trading volume of 11,007,407 shares, compared to its average volume of 9,961,223. Schlumberger Limited has a one year low of $42.73 and a one 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. The firm has a market cap of $68.12 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 0.92 and a beta of 1.64. The business’s fifty day moving average price is $51.63 and its 200-day moving average price is $51.79.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting the consensus estimate 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 the consensus estimate of $8.70 billion. During the same period in the previous year, the business posted $0.63 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, equities research analysts predict that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

The business 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 $0.275 dividend. The ex-dividend date is Wednesday, June 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 dividend on an annualized basis and a yield of 2.31%. Schlumberger’s dividend payout ratio is 36.54%.

Analysts Set New Price Targets

Several equities research analysts recently commented on SLB shares. Benchmark reissued a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Monday, April 22nd. BMO Capital Markets cut their price objective on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Susquehanna reissued a “positive” rating and issued a $77.00 price target on shares of Schlumberger in a report on Monday, April 22nd. Barclays reduced their target price on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Finally, Royal Bank of Canada boosted their target price on Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $68.72.

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.