Westwood Holdings Group Inc. Has $9.12 Million Stock Position in Schlumberger Limited (NYSE:SLB)

Westwood Holdings Group Inc. lowered its stake in Schlumberger Limited (NYSE:SLB) by 11.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 237,972 shares of the oil and gas company’s stock after selling 32,233 shares during the quarter. Westwood Holdings Group Inc.’s holdings in Schlumberger were worth $9,124,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. YANKCOM Partnership acquired a new stake in shares of Schlumberger in the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC acquired a new position in Schlumberger during the fourth quarter worth approximately $32,000. Golden State Wealth Management LLC acquired a new position in Schlumberger during the fourth quarter worth approximately $34,000. Hager Investment Management Services LLC acquired a new position in Schlumberger during the fourth quarter worth approximately $38,000. Finally, True Wealth Design LLC increased its position in Schlumberger by 584.7% during the fourth quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock worth $38,000 after buying an additional 842 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Trading Down 1.6%

Shares of SLB stock opened at $34.54 on Wednesday. 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 stock has a market cap of $46.98 billion, a P/E ratio of 11.11, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06. The stock has a 50 day simple moving average of $36.53 and a 200 day simple moving average of $39.49. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $50.94.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.73 by ($0.01). The company had revenue of $8.49 billion during the quarter, compared to the consensus estimate of $8.64 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.75 earnings per share. On average, research analysts predict that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be paid a $0.285 dividend. This represents a $1.14 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger’s dividend payout ratio (DPR) is currently 38.64%.

Insider Activity at Schlumberger

In other news, insider Gavin Rennick sold 26,990 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the transaction, the insider now owns 53,584 shares of the company’s stock, valued at approximately $2,192,657.28. The trade was a 33.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the business’s stock in a transaction on Friday, March 28th. The stock was sold at an average price of $42.28, for a total value of $1,062,623.24. Following the transaction, the insider now directly owns 31,031 shares of the company’s stock, valued at $1,311,990.68. This trade represents a 44.75% decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SLB. Jefferies Financial Group lowered their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research report on Thursday, March 27th. Citigroup boosted their price target on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Piper Sandler lowered their price target on Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Susquehanna lowered their price target on Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a research report on Monday, April 28th. Finally, JPMorgan Chase & Co. boosted their price target on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and an average target price of $52.44.

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.