Nicolet Advisory Services LLC Cuts Position in Schlumberger Limited (NYSE:SLB)

Nicolet Advisory Services LLC cut its holdings in Schlumberger Limited (NYSE:SLB) by 21.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 15,086 shares of the oil and gas company’s stock after selling 4,159 shares during the period. Nicolet Advisory Services LLC’s holdings in Schlumberger were worth $583,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Teachers Retirement System of The State of Kentucky grew its stake in Schlumberger by 25.9% in the 3rd quarter. Teachers Retirement System of The State of Kentucky now owns 761,875 shares of the oil and gas company’s stock valued at $31,961,000 after purchasing an additional 156,698 shares during the period. Wilmington Savings Fund Society FSB grew its position in Schlumberger by 27.0% during the third quarter. Wilmington Savings Fund Society FSB now owns 76,838 shares of the oil and gas company’s stock valued at $3,223,000 after buying an additional 16,350 shares during the period. Bryn Mawr Capital Management LLC increased its holdings in Schlumberger by 502.6% during the fourth quarter. Bryn Mawr Capital Management LLC now owns 198,024 shares of the oil and gas company’s stock worth $7,592,000 after buying an additional 165,162 shares during the last quarter. Narwhal Capital Management raised its position in Schlumberger by 225.5% in the fourth quarter. Narwhal Capital Management now owns 74,645 shares of the oil and gas company’s stock worth $2,862,000 after acquiring an additional 51,715 shares during the period. Finally, Czech National Bank boosted its stake in Schlumberger by 5.8% in the fourth quarter. Czech National Bank now owns 306,183 shares of the oil and gas company’s stock valued at $11,739,000 after acquiring an additional 16,914 shares during the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the sale, the vice president now owns 11,240 shares in the company, valued at $496,808. The trade was a 38.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Aparna Raman sold 25,133 shares of the 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 transaction, the insider now owns 31,031 shares in the company, valued at $1,311,990.68. The trade was a 44.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 315,905 shares of company stock valued at $13,609,283 in the last quarter. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group decreased their price target on shares of Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Thursday, March 27th. Piper Sandler initiated coverage on Schlumberger in a research note on Thursday, December 19th. They issued a “neutral” rating and a $47.00 target price on the stock. Atb Cap Markets cut Schlumberger from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 10th. Citigroup lifted their price objective on Schlumberger from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Tuesday, January 21st. Finally, Griffin Securities downgraded shares of Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. Six research 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’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.69.

Schlumberger Trading Down 7.0 %

Schlumberger stock opened at $39.23 on Friday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.65. The stock has a market cap of $53.34 billion, a P/E ratio of 12.61, a PEG ratio of 10.10 and a beta of 1.11. The firm’s fifty day moving average price is $41.18 and its 200-day moving average price is $41.49.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The business had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.86 EPS. Equities research analysts forecast that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th were paid a $0.285 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date of this dividend was Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is currently 36.66%.

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.