Choreo LLC Has $262,000 Position in Schlumberger Limited (NYSE:SLB)

Choreo LLC trimmed its position in Schlumberger Limited (NYSE:SLB) by 11.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,009 shares of the oil and gas company’s stock after selling 669 shares during the quarter. Choreo LLC’s holdings in Schlumberger were worth $262,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SLB. BluePath Capital Management LLC bought a new position in shares of Schlumberger in the third quarter worth $25,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Schlumberger during the 4th quarter worth approximately $26,000. Janiczek Wealth Management LLC increased its stake in Schlumberger by 1,180.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 602 shares during the last quarter. Pinnacle Bancorp Inc. raised its position in Schlumberger by 64.3% during the fourth quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock valued at $39,000 after purchasing an additional 292 shares in the last quarter. Finally, Legacy Bridge LLC lifted its stake in 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 purchasing an additional 241 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on SLB. The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. TD Cowen lowered their target price on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Benchmark restated a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. BMO Capital Markets lowered their price objective on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Monday, April 22nd. Finally, Royal Bank of Canada raised their target price 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 investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $68.72.

Schlumberger Stock Performance

Shares of SLB opened at $47.66 on Friday. 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 stock has a 50-day moving average of $51.66 and a 200-day moving average of $51.87. The company has a market cap of $68.12 billion, a PE ratio of 15.83, a P/E/G ratio of 0.92 and a beta of 1.64. Schlumberger Limited has a one year low of $42.73 and a one year high of $62.12.

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

Schlumberger Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.31%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now owns 261,507 shares in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.64, for a total transaction of $304,000.00. Following the transaction, the chief financial officer now owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Abdellah Merad sold 50,000 shares of Schlumberger stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.