Schlumberger Limited (NYSE:SLB) Shares Sold by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. lessened its holdings in Schlumberger Limited (NYSE:SLB) by 62.7% in the 1st quarter, Holdings Channel.com reports. The fund owned 68,564 shares of the oil and gas company’s stock after selling 115,207 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in Schlumberger were worth $2,866,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of SLB. Brighton Jones LLC increased its stake in Schlumberger by 21.4% during the 4th quarter. Brighton Jones LLC now owns 6,611 shares of the oil and gas company’s stock valued at $253,000 after purchasing an additional 1,166 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Schlumberger during the fourth quarter valued at $34,000. Apollon Wealth Management LLC increased its position in shares of Schlumberger by 1.8% in the 4th quarter. Apollon Wealth Management LLC now owns 24,902 shares of the oil and gas company’s stock valued at $955,000 after acquiring an additional 432 shares during the period. Kingsview Wealth Management LLC raised its stake in Schlumberger by 4.2% in the 4th quarter. Kingsview Wealth Management LLC now owns 19,482 shares of the oil and gas company’s stock worth $747,000 after acquiring an additional 790 shares during the last quarter. Finally, Stephens Inc. AR lifted its position in Schlumberger by 81.8% during the 4th quarter. Stephens Inc. AR now owns 25,509 shares of the oil and gas company’s stock worth $978,000 after acquiring an additional 11,474 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling

In related news, Director La Chevardiere Patrick De sold 5,000 shares of the stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $33.58, for a total value of $167,900.00. Following the transaction, the director now owns 23,525 shares of the company’s stock, valued at $789,969.50. This represents a 17.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the firm’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 sale, the insider now owns 31,031 shares in the company, 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. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

SLB has been the topic of a number of research reports. Wells Fargo & Company cut their price objective on Schlumberger from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday, June 5th. Barclays reduced their price target on shares of Schlumberger from $53.00 to $48.00 and set an “overweight” rating for the company in a research report on Friday, April 25th. Stifel Nicolaus reduced their target price on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, April 28th. Piper Sandler cut their price target on Schlumberger from $46.00 to $44.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Finally, Jefferies Financial Group decreased their price objective on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a report on Thursday, March 27th. Four investment analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.38.

Schlumberger Trading Up 0.5%

NYSE:SLB opened at $35.68 on Thursday. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94. The firm has a market cap of $48.53 billion, a PE ratio of 11.47, a price-to-earnings-growth ratio of 10.10 and a beta of 1.01. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The stock has a fifty day moving average price of $34.22 and a 200 day moving average price of $38.49.

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

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a $1.14 annualized dividend and a yield of 3.19%. Schlumberger’s dividend payout ratio (DPR) is 38.64%.

About Schlumberger

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.