Schlumberger Limited (NYSE:SLB) Shares Sold by FineMark National Bank & Trust

FineMark National Bank & Trust decreased its position in Schlumberger Limited (NYSE:SLB) by 2.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 14,104 shares of the oil and gas company’s stock after selling 349 shares during the period. FineMark National Bank & Trust’s holdings in Schlumberger were worth $541,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also made changes to their positions in SLB. YANKCOM Partnership bought a new position in Schlumberger in the fourth quarter worth about $31,000. Stonebridge Financial Group LLC bought a new stake in shares of Schlumberger in the 4th quarter worth approximately $32,000. Golden State Wealth Management LLC acquired a new position in Schlumberger during the 4th quarter valued at approximately $34,000. Hager Investment Management Services LLC bought a new stake in Schlumberger in the fourth quarter valued at $38,000. Finally, Bogart Wealth LLC boosted its holdings in shares of Schlumberger by 468.9% during the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company’s stock valued at $39,000 after acquiring an additional 844 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on SLB shares. Jefferies Financial Group cut their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating on the stock in a research report on Friday, January 3rd. Wells Fargo & Company reduced their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research report on Tuesday, December 17th. BMO Capital Markets lowered their target price on Schlumberger from $53.00 to $48.00 in a research report 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 target for the company. Finally, JPMorgan Chase & Co. raised their price target on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Six 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’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $55.81.

Schlumberger Trading Up 0.3 %

Schlumberger stock opened at $42.39 on Thursday. The firm has a market cap of $57.64 billion, a price-to-earnings ratio of 13.63, a price-to-earnings-growth ratio of 10.10 and a beta of 1.47. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The firm’s 50 day moving average price is $41.30 and its two-hundred day moving average price is $41.43. 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 (NYSE:SLB) last issued its earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9.24 billion. During the same period in the previous year, the firm posted $0.86 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, research analysts predict that Schlumberger Limited will post 3.38 EPS 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 paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 dividend on an annualized basis and a yield of 2.69%. Schlumberger’s dividend payout ratio is currently 36.66%.

Insiders Place Their Bets

In other news, insider Dianne B. Ralston sold 43,161 shares of the stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total value of $1,897,357.56. Following the completion of the sale, the insider now owns 235,024 shares in the company, valued at $10,331,655.04. This represents a 15.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the firm’s stock in a transaction on 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 sale, 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 disclosure for this sale can be found here. Insiders sold a total of 290,772 shares of company stock worth $12,546,660 over the last ninety days. 0.26% of the stock is currently owned by company 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.