Lindbrook Capital LLC Reduces Stock Holdings in Schlumberger Limited (NYSE:SLB)

Lindbrook Capital LLC cut its position in shares of Schlumberger Limited (NYSE:SLB) by 23.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,990 shares of the oil and gas company’s stock after selling 1,253 shares during the period. Lindbrook Capital LLC’s holdings in Schlumberger were worth $208,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SLB. Investment Advisory Services Inc. TX ADV lifted its holdings in Schlumberger by 1.4% in the third quarter. Investment Advisory Services Inc. TX ADV now owns 11,968 shares of the oil and gas company’s stock valued at $698,000 after acquiring an additional 171 shares during the last quarter. Miller Howard Investments Inc. NY grew its holdings in shares of Schlumberger by 0.5% during the 3rd quarter. Miller Howard Investments Inc. NY now owns 32,845 shares of the oil and gas company’s stock worth $1,915,000 after purchasing an additional 176 shares during the period. Stonegate Investment Group LLC increased its position in shares of Schlumberger by 1.7% during the 3rd quarter. Stonegate Investment Group LLC now owns 10,864 shares of the oil and gas company’s stock worth $633,000 after purchasing an additional 177 shares during the last quarter. CI Investments Inc. raised its holdings in Schlumberger by 4.9% in the 3rd quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock valued at $241,000 after buying an additional 192 shares during the period. Finally, Montgomery Investment Management Inc. lifted its position in Schlumberger by 1.9% in the third quarter. Montgomery Investment Management Inc. now owns 10,920 shares of the oil and gas company’s stock valued at $637,000 after buying an additional 200 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction 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 sale, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Abdellah Merad sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following 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 Securities & Exchange Commission, which is available at this link. Also, insider Gavin Rennick sold 20,045 shares of the business’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 sale, 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. In the last quarter, insiders sold 133,621 shares of company stock worth $6,691,623. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB opened at $49.52 on Tuesday. Schlumberger Limited has a 12 month low of $42.73 and a 12 month high of $62.12. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The firm has a market capitalization of $70.68 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. The business’s fifty day moving average price is $51.64 and its 200 day moving average price is $52.32.

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

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.22%. The ex-dividend date of this dividend is Wednesday, June 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is currently 36.54%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SLB. TD Cowen dropped their price target on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday. Morgan Stanley restated an “overweight” rating and set a $65.00 price target on shares of Schlumberger in a research note on Monday. Barclays dropped their price objective on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. BMO Capital Markets decreased their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday. Finally, Wells Fargo & Company lifted their target price on Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, January 22nd. One research analyst has rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and a consensus price target of $69.67.

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.