Goelzer Investment Management Inc. Sells 4,167 Shares of Schlumberger Limited (NYSE:SLB)

Goelzer Investment Management Inc. reduced its position in Schlumberger Limited (NYSE:SLB) by 5.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 79,151 shares of the oil and gas company’s stock after selling 4,167 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Schlumberger were worth $3,035,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Schlumberger by 20.6% in the 3rd 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 purchasing an additional 1,916,851 shares during the period. Legal & General Group Plc raised its position in shares of Schlumberger by 14.0% in the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after buying an additional 1,560,684 shares in the last quarter. Weiss Asset Management LP bought a new stake in Schlumberger during the third quarter valued at $37,322,000. Connor Clark & Lunn Investment Management Ltd. increased its stake in Schlumberger by 395.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 778,938 shares of the oil and gas company’s stock worth $32,676,000 after acquiring an additional 621,809 shares during the last quarter. Finally, State Street Corp raised its holdings in shares of Schlumberger by 0.6% in the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after acquiring an additional 528,279 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In related news, Director Vijay Kasibhatla sold 25,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. The trade was a 33.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Ugo Prechner sold 7,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total transaction of $309,400.00. Following the transaction, the vice president now directly owns 11,240 shares of the company’s stock, valued at $496,808. This represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 198,258 shares of company stock worth $8,732,604 over the last three months. Company insiders own 0.26% of the company’s stock.

Schlumberger Trading Up 0.6 %

NYSE:SLB opened at $42.30 on Friday. The firm has a market capitalization of $59.73 billion, a P/E ratio of 13.60, a P/E/G ratio of 9.98 and a beta of 1.52. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The company has a fifty day moving average of $40.76 and a 200 day moving average of $42.78.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9,241,140 billion. During the same period in the prior year, the business posted $0.86 earnings per share. Schlumberger’s revenue for the quarter was up 3.3% on a year-over-year basis. On average, research analysts predict that Schlumberger Limited will post 3.34 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio is presently 35.37%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Susquehanna cut their price objective on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Wells Fargo & Company cut their price target on shares of Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. BMO Capital Markets lowered their price objective on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. JPMorgan Chase & Co. upped their target price on shares of Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday. Finally, Piper Sandler initiated coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target on the stock. Six analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average price target of $55.81.

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.