Schlumberger Limited (NYSE:SLB) Shares Sold by Raleigh Capital Management Inc.

Raleigh Capital Management Inc. cut its stake in Schlumberger Limited (NYSE:SLB) by 9.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,334 shares of the oil and gas company’s stock after selling 244 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Schlumberger were worth $90,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SLB. State Street Corp increased its position in Schlumberger by 0.6% during the third quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock worth $3,808,476,000 after purchasing an additional 528,279 shares during the last quarter. Geode Capital Management LLC grew its position in Schlumberger by 0.8% in the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock worth $1,195,290,000 after acquiring an additional 239,966 shares during the period. Legal & General Group Plc increased its position in shares of Schlumberger by 14.0% during the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after purchasing an additional 1,560,684 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Schlumberger by 20.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after acquiring an additional 1,916,851 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Schlumberger by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock worth $335,214,000 after purchasing an additional 31,718 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In other Schlumberger news, insider Dianne B. Ralston sold 43,161 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the sale, the insider now directly owns 235,024 shares of the company’s stock, valued at $10,331,655.04. This represents a 15.52 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Ugo Prechner sold 7,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the transaction, the vice president now owns 11,240 shares in the company, valued at $496,808. This trade represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 198,258 shares of company stock worth $8,732,604 in the last 90 days. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on SLB shares. TD Cowen boosted their target price on Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday. 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. Stifel Nicolaus reduced their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. BMO Capital Markets lowered their target price on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Stock Performance

NYSE SLB opened at $41.99 on Friday. The company has a fifty day moving average of $40.79 and a two-hundred day moving average of $42.79. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The company has a market capitalization of $59.29 billion, a PE ratio of 13.50, 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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9,241,140 billion. During the same period in the prior year, the firm earned $0.86 EPS. The business’s revenue was up 3.3% on a year-over-year basis. As a group, analysts expect that Schlumberger Limited will post 3.34 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a $0.285 dividend. This is an increase 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 yield of 2.72%. Schlumberger’s dividend payout ratio is 35.37%.

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.