Schlumberger Limited (NYSE:SLB) Shares Sold by Sanders Morris Harris LLC

Sanders Morris Harris LLC cut its position in shares of Schlumberger Limited (NYSE:SLB) by 12.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 217,650 shares of the oil and gas company’s stock after selling 31,500 shares during the period. Schlumberger comprises 1.2% of Sanders Morris Harris LLC’s portfolio, making the stock its 10th biggest holding. Sanders Morris Harris LLC’s holdings in Schlumberger were worth $8,227,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Grove Bank & Trust raised its holdings in shares of Schlumberger by 17.4% in the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after purchasing an additional 224 shares during the last quarter. M&R Capital Management Inc. lifted its position in Schlumberger by 1.7% during the 3rd quarter. M&R Capital Management Inc. now owns 14,817 shares of the oil and gas company’s stock worth $622,000 after buying an additional 241 shares in the last quarter. GM Advisory Group LLC boosted its stake in shares of Schlumberger by 3.8% during the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock worth $281,000 after buying an additional 247 shares during the last quarter. Cordatus Wealth Management LLC grew its holdings in shares of Schlumberger by 2.1% in the 3rd quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock valued at $561,000 after acquiring an additional 281 shares in the last quarter. Finally, OneDigital Investment Advisors LLC increased its position in shares of Schlumberger by 0.7% in the third quarter. OneDigital Investment Advisors LLC now owns 40,715 shares of the oil and gas company’s stock valued at $1,708,000 after acquiring an additional 284 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $40.88 on Thursday. The business has a 50-day simple moving average of $40.95 and a 200 day simple moving average of $42.95. The firm has a market capitalization of $57.73 billion, a price-to-earnings ratio of 13.14, a PEG ratio of 1.35 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period last year, the firm earned $0.78 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, research analysts anticipate that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on SLB shares. Piper Sandler assumed coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price target for the company. Jefferies Financial Group dropped their target price on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a report on Friday, January 3rd. UBS Group lowered their price target on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Royal Bank of Canada reiterated an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research note on Thursday, October 3rd. Finally, Sanford C. Bernstein raised Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Six 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 stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $56.58.

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.