CoreCommodity Management LLC Sells 8,771 Shares of Schlumberger Limited (NYSE:SLB)

CoreCommodity Management LLC cut its stake in Schlumberger Limited (NYSE:SLB) by 14.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 52,737 shares of the oil and gas company’s stock after selling 8,771 shares during the quarter. CoreCommodity Management LLC’s holdings in Schlumberger were worth $2,022,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. YANKCOM Partnership bought a new position in Schlumberger in the fourth quarter worth about $31,000. Stonebridge Financial Group LLC bought a new position in shares of Schlumberger in the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC bought a new position in shares of Schlumberger in the 4th quarter worth approximately $34,000. Hager Investment Management Services LLC purchased a new position in shares of Schlumberger in the 4th quarter valued at approximately $38,000. Finally, Bogart Wealth LLC boosted its position in shares of Schlumberger by 468.9% during the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 844 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Schlumberger

In related news, insider Gavin Rennick sold 26,990 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The shares were 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 in the company, valued at approximately $2,192,657.28. The trade was a 33.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Aparna Raman sold 25,133 shares of the company’s stock in a transaction that occurred on Friday, March 28th. The shares were sold at an average price of $42.28, for a total transaction of $1,062,623.24. Following 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Barclays decreased their price objective on Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a report on Friday, April 25th. BMO Capital Markets lowered their price target on shares of Schlumberger from $53.00 to $48.00 in a research report on Thursday, January 16th. Jefferies Financial Group cut their price objective on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a report on Thursday, March 27th. Royal Bank of Canada reiterated an “outperform” rating and set a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Finally, TD Cowen boosted their price target on Schlumberger from $53.00 to $55.00 and gave the stock a “buy” rating in a research report on Tuesday, January 21st. Five investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $53.32.

Schlumberger Stock Down 0.4 %

Shares of Schlumberger stock opened at $33.62 on Wednesday. Schlumberger Limited has a twelve month low of $31.11 and a twelve month high of $50.94. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The company’s 50 day moving average is $37.55 and its 200 day moving average is $39.91. The company has a market cap of $45.72 billion, a price-to-earnings ratio of 10.81, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing the consensus estimate of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The firm had revenue of $8.49 billion for the quarter, compared to the consensus estimate of $8.64 billion. During the same period in the previous year, the company earned $0.75 earnings per share. Schlumberger’s quarterly revenue was down 2.5% compared to the same quarter last year. Research analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

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