Foster Victor Wealth Advisors LLC Sells 1,404 Shares of Schlumberger Limited (NYSE:SLB)

Foster Victor Wealth Advisors LLC trimmed its holdings in Schlumberger Limited (NYSE:SLB) by 20.1% in the 4th quarter, Holdings Channel reports. The fund owned 5,576 shares of the oil and gas company’s stock after selling 1,404 shares during the quarter. Foster Victor Wealth Advisors LLC’s holdings in Schlumberger were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Grove Bank & Trust grew its position in Schlumberger by 17.4% in the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after purchasing an additional 224 shares during the last quarter. M&R Capital Management Inc. lifted its stake in shares of Schlumberger by 1.7% in the third quarter. M&R Capital Management Inc. now owns 14,817 shares of the oil and gas company’s stock valued at $622,000 after buying an additional 241 shares during the period. CX Institutional grew its position in Schlumberger by 2.4% during the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock worth $398,000 after buying an additional 244 shares in the last quarter. GM Advisory Group LLC increased its stake in Schlumberger by 3.8% during the third quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock valued at $281,000 after acquiring an additional 247 shares during the period. Finally, Cordatus Wealth Management LLC raised its holdings in Schlumberger by 2.1% in the 3rd quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock valued at $561,000 after acquiring an additional 281 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research reports. Royal Bank of Canada restated an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a research report on Tuesday, January 21st. Citigroup boosted their price target on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Susquehanna reduced their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research report on Tuesday, November 12th. Finally, Evercore ISI reaffirmed an “in-line” rating and set a $44.00 price objective (down from $62.00) on shares of Schlumberger in a report on Wednesday, January 15th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger presently has an average rating of “Moderate Buy” and a consensus target price of $55.81.

Insider Activity

In other news, insider Dianne B. Ralston sold 43,161 shares of the firm’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $43.96, for a total value of $1,897,357.56. Following the transaction, the insider now owns 235,024 shares of the company’s stock, valued at approximately $10,331,655.04. This trade represents a 15.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total transaction of $2,486,400.00. Following the sale, the executive vice president now directly owns 210,502 shares of the company’s stock, valued at approximately $8,723,202.88. This trade represents a 22.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 258,258 shares of company stock valued at $11,219,004. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

Schlumberger stock opened at $40.87 on Thursday. The stock has a 50-day simple moving average of $40.69 and a 200 day simple moving average of $42.66. The stock has a market capitalization of $57.71 billion, a price-to-earnings ratio of 13.14, a P/E/G ratio of 9.98 and a beta of 1.52. 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 Limited has a 12-month low of $36.52 and a 12-month high of $55.69.

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. Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion during the quarter, compared to the consensus estimate of $9.24 billion. During the same period in the previous year, the firm posted $0.86 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis. On average, research analysts anticipate that Schlumberger Limited will post 3.34 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.285 per share. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. This represents a $1.14 annualized dividend and a yield of 2.79%. Schlumberger’s dividend payout ratio is currently 35.37%.

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.