Nicollet Investment Management Inc. Has $4.71 Million Position in Schlumberger Limited (NYSE:SLB)

Nicollet Investment Management Inc. lessened its position in Schlumberger Limited (NYSE:SLB) by 6.8% during the 4th quarter, Holdings Channel reports. The firm owned 122,796 shares of the oil and gas company’s stock after selling 8,958 shares during the quarter. Schlumberger makes up about 1.6% of Nicollet Investment Management Inc.’s investment portfolio, making the stock its 21st biggest position. Nicollet Investment Management Inc.’s holdings in Schlumberger were worth $4,708,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in SLB. HighPoint Advisor Group LLC lifted its holdings in Schlumberger by 22.1% during the fourth quarter. HighPoint Advisor Group LLC now owns 18,492 shares of the oil and gas company’s stock worth $746,000 after acquiring an additional 3,342 shares in the last quarter. Meridian Investment Counsel Inc. raised its stake in shares of Schlumberger by 27.6% in the 4th quarter. Meridian Investment Counsel Inc. now owns 13,050 shares of the oil and gas company’s stock valued at $500,000 after purchasing an additional 2,825 shares during the period. Franklin Resources Inc. grew its holdings in shares of Schlumberger by 12.4% during the fourth quarter. Franklin Resources Inc. now owns 15,396,967 shares of the oil and gas company’s stock worth $590,320,000 after buying an additional 1,700,203 shares in the last quarter. Colrain Capital LLC acquired a new stake in shares of Schlumberger in the fourth quarter valued at about $212,000. Finally, Summit Financial LLC grew its stake in shares of Schlumberger by 52.0% in the fourth quarter. Summit Financial LLC now owns 29,723 shares of the oil and gas company’s stock valued at $1,147,000 after buying an additional 10,173 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Schlumberger Price Performance

Shares of SLB stock opened at $41.83 on Tuesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The business’s 50 day moving average price is $41.25 and its 200-day moving average price is $41.48. The firm has a market cap of $56.89 billion, a P/E ratio of 13.45, a P/E/G ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.65.

Schlumberger (NYSE:SLB) last released its quarterly 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 business had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same period in the previous year, the company posted $0.86 EPS. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently disclosed 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 a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.73%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio is 36.66%.

Wall Street Analyst Weigh In

Several research firms have weighed in on SLB. JPMorgan Chase & Co. increased their price target on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Piper Sandler assumed coverage on shares of Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Stifel Nicolaus cut their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Finally, Evercore ISI reissued an “in-line” rating and set a $44.00 target price (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $55.69.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Gavin Rennick sold 26,990 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total value of $1,104,430.80. Following the completion of the sale, the insider now owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. This trade represents a 33.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the sale, the insider now owns 30,829 shares in the company, valued at approximately $1,245,799.89. This represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 290,772 shares of company stock worth $12,546,660. 0.26% of the stock is currently owned by insiders.

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.