Viawealth LLC Sells 1,847 Shares of Schlumberger Limited (NYSE:SLB)

Viawealth LLC cut its stake in shares of Schlumberger Limited (NYSE:SLB) by 8.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,765 shares of the oil and gas company’s stock after selling 1,847 shares during the quarter. Viawealth LLC’s holdings in Schlumberger were worth $796,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. iA Global Asset Management Inc. lifted its holdings in shares of Schlumberger by 45.8% in the 4th quarter. iA Global Asset Management Inc. now owns 67,773 shares of the oil and gas company’s stock worth $2,598,000 after buying an additional 21,297 shares during the period. Royal London Asset Management Ltd. lifted its stake in Schlumberger by 5.3% in the fourth quarter. Royal London Asset Management Ltd. now owns 631,564 shares of the oil and gas company’s stock worth $24,214,000 after acquiring an additional 31,971 shares during the period. Decagon Asset Management LLP bought a new position in Schlumberger during the 4th quarter worth about $14,123,000. First Financial Bankshares Inc purchased a new position in Schlumberger during the 4th quarter valued at about $19,538,000. Finally, Generali Investments Management Co LLC bought a new stake in shares of Schlumberger in the 4th quarter valued at about $195,000. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

SLB has been the topic of a number of recent research reports. Jefferies Financial Group dropped their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Evercore ISI reiterated an “in-line” rating and issued a $44.00 price target (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Piper Sandler assumed coverage on Schlumberger in a research note on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Citigroup raised their price objective on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research report on Tuesday, January 21st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $55.81.

Insider Buying and Selling at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 123,097 shares of the firm’s stock in a transaction on 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 owns 184,626 shares in the company, valued at approximately $8,140,160.34. This trade represents a 40.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total transaction of $309,400.00. Following the completion of the transaction, the vice president now owns 11,240 shares of the company’s stock, valued at approximately $496,808. This trade represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 290,772 shares of company stock worth $12,546,660. Insiders own 0.26% of the company’s stock.

Schlumberger Trading Down 0.3 %

Shares of NYSE:SLB opened at $41.00 on Thursday. The business has a 50-day moving average price of $41.08 and a 200-day moving average price of $41.43. The stock has a market cap of $55.75 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 10.10 and a beta of 1.47. 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.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.90 by $0.02. The business had revenue of $9.28 billion during the quarter, compared to analysts’ expectations of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.86 EPS. Equities analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.78%. The ex-dividend date is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

About Schlumberger

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.