Griffin Asset Management Inc. Sells 3,095 Shares of Schlumberger Limited (NYSE:SLB)

Griffin Asset Management Inc. cut its stake in shares of Schlumberger Limited (NYSE:SLB) by 4.2% during the 4th quarter, Holdings Channel reports. The fund owned 71,035 shares of the oil and gas company’s stock after selling 3,095 shares during the period. Griffin Asset Management Inc.’s holdings in Schlumberger were worth $2,723,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Grove Bank & Trust boosted its position in shares of Schlumberger by 17.4% during 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 in the last quarter. M&R Capital Management Inc. boosted its holdings in 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 worth $622,000 after acquiring an additional 241 shares in the last quarter. CX Institutional grew its stake in Schlumberger by 2.4% in the fourth quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock valued at $398,000 after acquiring an additional 244 shares during the period. GM Advisory Group LLC increased its holdings in shares of 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 in the last quarter. Finally, Cordatus Wealth Management LLC raised its position in shares of Schlumberger by 2.1% during the third quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock worth $561,000 after purchasing an additional 281 shares during the period. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Trading Up 0.7 %

NYSE:SLB opened at $42.55 on Tuesday. The firm’s 50 day moving average is $40.74 and its 200 day moving average is $42.72. Schlumberger Limited has a 12 month low of $36.52 and a 12 month high of $55.69. The stock has a market capitalization of $60.08 billion, a PE ratio of 13.68, a price-to-earnings-growth ratio of 9.98 and a beta of 1.52. The company has a current ratio of 1.45, a quick ratio of 1.11 and a debt-to-equity ratio of 0.49.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $9.28 billion for the quarter, compared to analysts’ expectations of $9,241,140 billion. Schlumberger had a return on equity of 21.90% and a net margin of 12.29%. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.86 EPS. Sell-side analysts expect that Schlumberger Limited will post 3.34 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be given a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date is Wednesday, February 5th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Bank of America lowered their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. JPMorgan Chase & Co. raised their price target on shares of Schlumberger from $48.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Griffin Securities lowered Schlumberger from a “buy” rating to a “neutral” rating in a report on Friday, December 20th. BMO Capital Markets dropped their target price on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Finally, Susquehanna decreased their price target on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $55.81.

Insider Activity at Schlumberger

In related news, insider Dianne B. Ralston sold 43,161 shares of Schlumberger stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $43.96, for a total transaction of $1,897,357.56. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Ugo Prechner sold 7,000 shares of the company’s stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $44.20, for a total value of $309,400.00. Following the completion of the transaction, the vice president now owns 11,240 shares in the company, valued at $496,808. This represents a 38.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 198,258 shares of company stock worth $8,732,604. 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.