Waterfront Wealth Inc. Sells 615 Shares of Schlumberger Limited (NYSE:SLB)

Waterfront Wealth Inc. trimmed its holdings in Schlumberger Limited (NYSE:SLB) by 2.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,465 shares of the oil and gas company’s stock after selling 615 shares during the period. Waterfront Wealth Inc.’s holdings in Schlumberger were worth $938,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in the stock. Pacer Advisors Inc. raised its holdings in Schlumberger by 12,289.6% in the 4th quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after acquiring an additional 12,938,082 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Schlumberger by 20.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after purchasing an additional 1,916,851 shares in the last quarter. Scharf Investments LLC bought a new stake in Schlumberger during the fourth quarter worth about $52,607,000. Van ECK Associates Corp grew its stake in Schlumberger by 12.7% during the fourth quarter. Van ECK Associates Corp now owns 8,103,715 shares of the oil and gas company’s stock worth $310,696,000 after buying an additional 915,925 shares in the last quarter. Finally, Weiss Asset Management LP bought a new position in Schlumberger in the 3rd quarter valued at about $37,322,000. 81.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Barclays cut their price target on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a report on Wednesday, December 18th. Stifel Nicolaus cut their target price on Schlumberger from $60.00 to $59.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. BMO Capital Markets decreased their price target on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Piper Sandler started coverage on Schlumberger in a research report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective for the company. Finally, JPMorgan Chase & Co. raised their price objective on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.81.

Insiders Place Their Bets

In other news, insider Bejar Carmen Rando sold 5,524 shares of Schlumberger stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the transaction, the insider now directly owns 30,829 shares of the company’s stock, valued at approximately $1,245,799.89. This trade represents a 15.20 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the sale, the director now owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 263,782 shares of company stock worth $11,442,229. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $41.73 on Friday. The stock has a market cap of $58.45 billion, a price-to-earnings ratio of 13.42, a P/E/G ratio of 10.00 and a beta of 1.51. Schlumberger Limited has a twelve month low of $36.52 and a twelve month high of $55.69. The company’s fifty day moving average is $40.20 and its 200 day moving average is $41.91. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The firm 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 business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.86 EPS. Sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Increases Dividend

The company also recently announced 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 yield of 2.73%. The ex-dividend date is Wednesday, February 5th. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio 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.