Retirement Systems of Alabama Reduces Holdings in Schlumberger Limited (NYSE:SLB)

Retirement Systems of Alabama decreased its position in shares of Schlumberger Limited (NYSE:SLB) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 314,820 shares of the oil and gas company’s stock after selling 6,524 shares during the quarter. Retirement Systems of Alabama’s holdings in Schlumberger were worth $16,383,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in SLB. BluePath Capital Management LLC purchased a new position in shares of Schlumberger during the third quarter worth about $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Schlumberger during the fourth quarter worth about $26,000. Janiczek Wealth Management LLC boosted its stake in shares of Schlumberger by 1,180.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after buying an additional 602 shares during the period. Pinnacle Bancorp Inc. boosted its stake in shares of Schlumberger by 64.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after buying an additional 292 shares during the period. Finally, Legacy Bridge LLC boosted its stake in shares of Schlumberger by 39.4% during the fourth quarter. Legacy Bridge LLC now owns 853 shares of the oil and gas company’s stock worth $44,000 after buying an additional 241 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $47.48 on Wednesday. Schlumberger Limited has a 1-year low of $42.73 and a 1-year high of $62.12. The business has a 50-day moving average of $51.73 and a 200-day moving average of $51.93. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The company has a market capitalization of $67.87 billion, a price-to-earnings ratio of 15.77, a PEG ratio of 0.95 and a beta of 1.60.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter in the prior year, the business earned $0.63 earnings per share. The company’s revenue was up 12.6% compared to the same quarter last year. On average, equities analysts anticipate that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.32%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Activity at Schlumberger

In related news, insider Gavin Rennick sold 20,045 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $48.77, for a total value of $977,594.65. Following the completion of the transaction, the insider now owns 77,563 shares of the company’s stock, valued at $3,782,747.51. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the completion of the transaction, the chief financial officer now owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gavin Rennick sold 20,045 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $48.77, for a total value of $977,594.65. Following the transaction, the insider now directly owns 77,563 shares in the company, valued at approximately $3,782,747.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 76,295 shares of company stock valued at $3,707,595. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group reiterated a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. HSBC reiterated a “buy” rating and set a $71.00 target price on shares of Schlumberger in a research note on Thursday, April 4th. Barclays decreased their target price on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. TD Cowen reduced their price objective on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Finally, Royal Bank of Canada raised their price objective on shares of Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $68.72.

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.