Venturi Wealth Management LLC Sells 810 Shares of Schlumberger Limited (NYSE:SLB)

Venturi Wealth Management LLC decreased its holdings in Schlumberger Limited (NYSE:SLB) by 35.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,484 shares of the oil and gas company’s stock after selling 810 shares during the period. Venturi Wealth Management LLC’s holdings in Schlumberger were worth $57,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of SLB. Prospera Private Wealth LLC bought a new position in shares of Schlumberger in the 3rd quarter valued at $29,000. YANKCOM Partnership acquired a new stake in shares of Schlumberger during the 4th quarter valued at $31,000. Stonebridge Financial Group LLC acquired a new stake in shares of Schlumberger during the 4th quarter valued at $32,000. Golden State Wealth Management LLC acquired a new stake in shares of Schlumberger during the 4th quarter valued at $34,000. Finally, Ashton Thomas Securities LLC acquired a new stake in shares of Schlumberger during the 3rd quarter valued at $37,000. Institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

SLB stock opened at $41.51 on Tuesday. The stock has a 50-day moving average price of $40.23 and a 200-day moving average price of $41.87. Schlumberger Limited has a 1-year low of $36.52 and a 1-year high of $55.69. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49. The firm has a market cap of $56.45 billion, a PE ratio of 13.35, a price-to-earnings-growth ratio of 10.10 and a beta of 1.51.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, January 17th. The oil and gas company reported $0.92 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.02. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The firm had revenue of $9.28 billion during the quarter, compared to analyst estimates of $9.24 billion. During the same period last year, the company posted $0.86 EPS. The business’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities research analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Investors of record on Wednesday, February 5th will be given a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 2.75%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. The ex-dividend date is Wednesday, February 5th. Schlumberger’s payout ratio is presently 36.66%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. raised their price objective on Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, January 21st. Wells Fargo & Company cut their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Royal Bank of Canada reissued an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. Piper Sandler began coverage on Schlumberger in a report on Thursday, December 19th. They set a “neutral” rating and a $47.00 price objective on the stock. Finally, Atb Cap Markets downgraded Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Insider Activity at Schlumberger

In related news, insider Dianne B. Ralston sold 43,161 shares of the business’s stock in a transaction dated 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 directly owns 235,024 shares of the company’s stock, valued at $10,331,655.04. The trade was a 15.52 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Ugo Prechner sold 7,000 shares of the business’s stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the sale, the vice president now directly owns 11,240 shares of the company’s stock, valued at $496,808. The trade was a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 263,782 shares of company stock valued at $11,442,229 in the last three months. Corporate insiders own 0.26% of the company’s stock.

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.