Ascent Group LLC Has $780,000 Stake in Schlumberger Limited (NYSE:SLB)

Ascent Group LLC lowered its position in Schlumberger Limited (NYSE:SLB) by 3.5% during the fourth quarter, Holdings Channel reports. The firm owned 20,342 shares of the oil and gas company’s stock after selling 730 shares during the period. Ascent Group LLC’s holdings in Schlumberger were worth $780,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SLB. YANKCOM Partnership acquired a new position in shares of Schlumberger in the 4th quarter worth approximately $31,000. Stonebridge Financial Group LLC acquired a new position in shares of Schlumberger during the 4th quarter valued at $32,000. Golden State Wealth Management LLC acquired a new position in shares of Schlumberger during the 4th quarter valued at $34,000. Hager Investment Management Services LLC acquired a new position in shares of Schlumberger during the 4th quarter valued at $38,000. Finally, True Wealth Design LLC lifted its position in shares of Schlumberger by 584.7% during the 4th quarter. True Wealth Design LLC now owns 986 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 842 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insiders Place Their Bets

In other Schlumberger news, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now directly owns 31,031 shares of the company’s stock, valued at approximately $1,311,990.68. This represents a 44.75% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Gavin Rennick sold 26,990 shares of the company’s stock in a transaction dated 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 sale, the insider now directly owns 53,584 shares of the company’s stock, valued at $2,192,657.28. The trade was a 33.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Stifel Nicolaus dropped their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Barclays dropped their target price on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating on the stock in a research report on Friday, April 25th. Morgan Stanley dropped their target price on shares of Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Susquehanna dropped their target price on shares of Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a research report on Monday, April 28th. Finally, Piper Sandler decreased their price target on shares of Schlumberger from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.44.

Schlumberger Trading Down 0.3%

NYSE:SLB opened at $33.66 on Tuesday. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The firm has a 50-day moving average of $35.94 and a 200-day moving average of $39.24. The company has a market cap of $45.79 billion, a PE ratio of 10.82, a PEG ratio of 10.10 and a beta of 1.06. Schlumberger Limited has a one year low of $31.11 and a one year high of $50.94.

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

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger’s payout ratio is 38.64%.

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.