Laird Norton Wetherby Wealth Management LLC Sells 3,094 Shares of Schlumberger Limited (NYSE:SLB)

Laird Norton Wetherby Wealth Management LLC reduced its position in shares of Schlumberger Limited (NYSE:SLB) by 8.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 34,252 shares of the oil and gas company’s stock after selling 3,094 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Schlumberger were worth $1,313,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Invenomic Capital Management LP acquired a new position in shares of Schlumberger in the fourth quarter worth approximately $17,615,000. Investor s Fiduciary Advisor Network LLC acquired a new position in shares of Schlumberger in the fourth quarter worth approximately $554,000. Jefferies Financial Group Inc. lifted its stake in shares of Schlumberger by 225.9% in the fourth quarter. Jefferies Financial Group Inc. now owns 1,033,530 shares of the oil and gas company’s stock worth $39,626,000 after acquiring an additional 716,435 shares during the period. Kaizen Financial Strategies acquired a new position in shares of Schlumberger in the fourth quarter worth approximately $211,000. Finally, Gotham Asset Management LLC lifted its stake in shares of Schlumberger by 146.2% in the fourth quarter. Gotham Asset Management LLC now owns 659,480 shares of the oil and gas company’s stock worth $25,284,000 after acquiring an additional 391,632 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $36.12 on Wednesday. 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 Limited has a twelve month low of $31.11 and a twelve month high of $50.94. The stock’s 50 day moving average is $37.04 and its 200-day moving average is $39.67. The firm has a market capitalization of $49.13 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB) last announced 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). Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same quarter last year, the company posted $0.75 EPS. The company’s quarterly revenue was down 2.5% compared to the same quarter last year. Sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS 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 issued a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.16%. Schlumberger’s dividend payout ratio (DPR) is currently 38.64%.

Analyst Ratings Changes

A number of equities analysts recently commented on SLB shares. Jefferies Financial Group cut their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Thursday, March 27th. Citigroup boosted their price target on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Piper Sandler dropped their price target on Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Susquehanna dropped their price target on Schlumberger from $48.00 to $46.00 and set a “positive” rating on the stock in a research note on Monday, April 28th. Finally, BMO Capital Markets dropped their price target on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $53.32.

Insider Buying and Selling

In other Schlumberger news, insider Gavin Rennick sold 26,990 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 53,584 shares in the company, valued at $2,192,657.28. This represents a 33.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction on 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 transaction, the insider now 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.

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.