Copeland Capital Management LLC Cuts Stock Position in Schlumberger Limited (NYSE:SLB)

Copeland Capital Management LLC trimmed its holdings in shares of Schlumberger Limited (NYSE:SLB) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,643 shares of the oil and gas company’s stock after selling 968 shares during the period. Copeland Capital Management LLC’s holdings in Schlumberger were worth $715,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in SLB. Pacer Advisors Inc. boosted its position in shares of Schlumberger by 12,289.6% in the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock worth $500,082,000 after buying an additional 12,938,082 shares during the period. 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 worth $470,425,000 after acquiring an additional 1,916,851 shares during the period. Scharf Investments LLC acquired a new stake in Schlumberger in the fourth quarter valued at approximately $52,607,000. Weiss Asset Management LP purchased a new stake in shares of Schlumberger during the third quarter valued at approximately $37,322,000. Finally, AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of Schlumberger during the fourth quarter worth $25,481,000. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SLB shares. Piper Sandler began coverage on shares of Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price target for the company. Citigroup lifted their target price on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Evercore ISI reissued an “in-line” rating and issued a $44.00 price target (down previously from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Finally, BMO Capital Markets reduced their target price on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Six investment 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, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Stock Down 2.0 %

Shares of Schlumberger stock opened at $40.21 on Monday. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The stock has a market capitalization of $56.32 billion, a price-to-earnings ratio of 12.93, a PEG ratio of 9.55 and a beta of 1.51. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The business’s 50 day simple moving average is $40.49 and its 200-day simple moving average is $42.54.

Schlumberger (NYSE:SLB) last posted 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 company had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. During the same period last year, the business posted $0.86 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be paid a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.84%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Activity

In other Schlumberger news, EVP Mogharbel Khaled Al sold 123,097 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the sale, the executive vice president now directly owns 184,626 shares in the company, valued at approximately $8,140,160.34. The trade was a 40.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the 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 completion of the transaction, the director now owns 49,595 shares of the company’s stock, valued at $2,179,204.30. This trade represents a 33.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 263,782 shares of company stock valued at $11,442,229. Insiders own 0.26% of the company’s stock.

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.