Martin & Co. Inc. TN Lowers Position in Schlumberger Limited (NYSE:SLB)

Martin & Co. Inc. TN cut its holdings in shares of Schlumberger Limited (NYSE:SLB) by 6.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 152,299 shares of the oil and gas company’s stock after selling 10,894 shares during the quarter. Schlumberger comprises approximately 1.4% of Martin & Co. Inc. TN’s investment portfolio, making the stock its 17th biggest position. Martin & Co. Inc. TN’s holdings in Schlumberger were worth $5,839,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new stake in shares of Schlumberger during the 3rd quarter worth about $29,000. YANKCOM Partnership acquired a new position in Schlumberger during the fourth quarter worth approximately $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. Finally, Ashton Thomas Securities LLC purchased a new position in shares of Schlumberger in the 3rd quarter valued at approximately $37,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of analyst reports. Stifel Nicolaus decreased their price target on Schlumberger from $60.00 to $59.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. BMO Capital Markets reduced their price objective on shares of Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. TD Cowen upped their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Evercore ISI reissued an “in-line” rating and set a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Finally, Jefferies Financial Group cut their price target on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research note on Friday, January 3rd. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Schlumberger Trading Down 0.8 %

NYSE SLB opened at $41.75 on Monday. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69. The company has a 50-day simple moving average of $40.08 and a 200-day simple moving average of $41.96. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The firm has a market capitalization of $58.48 billion, a PE ratio of 13.42, a price-to-earnings-growth ratio of 9.49 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to the consensus estimate of $9.24 billion. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. Schlumberger’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the firm posted $0.86 EPS. On average, equities analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a dividend yield of 2.73%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s payout ratio is 36.66%.

Insiders Place Their Bets

In other news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the transaction, the insider now owns 30,829 shares of the company’s stock, valued at $1,245,799.89. The trade was a 15.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $43.94, for a total transaction of $1,098,500.00. Following the completion of the transaction, the director now directly owns 49,595 shares in the company, valued at $2,179,204.30. This represents a 33.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 263,782 shares of company stock worth $11,442,229. 0.26% of the stock is owned by corporate insiders.

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.