Schlumberger Limited (NYSE:SLB) Shares Sold by Israel Discount Bank of New York

Israel Discount Bank of New York lessened its stake in Schlumberger Limited (NYSE:SLB) by 2.2% during the fourth quarter, Holdings Channel reports. The firm owned 11,241 shares of the oil and gas company’s stock after selling 248 shares during the period. Israel Discount Bank of New York’s holdings in Schlumberger were worth $585,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Schlumberger by 1.1% in the 3rd quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock worth $7,609,804,000 after purchasing an additional 1,412,821 shares during the last quarter. FMR LLC raised its holdings in shares of Schlumberger by 1.1% in the 3rd quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock worth $1,584,099,000 after purchasing an additional 282,709 shares in the last quarter. Morgan Stanley raised its holdings in shares of Schlumberger by 1.9% during the third quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock valued at $920,561,000 after acquiring an additional 292,817 shares during the period. Invesco Ltd. raised its holdings in shares of Schlumberger by 30.5% during the third quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock valued at $488,020,000 after acquiring an additional 1,954,620 shares during the period. Finally, Sanders Capital LLC raised its holdings in shares of Schlumberger by 34.9% during the third quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock valued at $469,693,000 after acquiring an additional 2,085,506 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB stock traded down $0.25 on Monday, hitting $48.95. The company’s stock had a trading volume of 5,721,578 shares, compared to its average volume of 11,114,986. The company has a market capitalization of $69.97 billion, a PE ratio of 16.25, a PEG ratio of 0.95 and a beta of 1.60. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. Schlumberger Limited has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The stock’s 50 day moving average is $51.74 and its 200-day moving average is $52.08.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The firm had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share. Equities research analysts expect that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.25%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is 36.54%.

Insider Transactions at Schlumberger

In related news, insider Gavin Rennick sold 20,045 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $48.77, for a total value of $977,594.65. Following the completion of the transaction, the insider now owns 77,563 shares in the company, valued at approximately $3,782,747.51. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Gavin Rennick sold 20,045 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $48.77, for a total transaction of $977,594.65. Following the transaction, the insider now owns 77,563 shares of the company’s stock, valued at approximately $3,782,747.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,295 shares of company stock valued at $3,707,595. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SLB. HSBC reaffirmed a “buy” rating and set a $71.00 price objective on shares of Schlumberger in a research report on Thursday, April 4th. Benchmark reaffirmed a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. Bank of America cut their target price on shares of Schlumberger from $63.00 to $62.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Wells Fargo & Company cut shares of Schlumberger from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $68.00 to $53.00 in a research note on Monday. Finally, TD Cowen dropped their price objective on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.72.

Schlumberger 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.