Schlumberger Limited (NYSE:SLB) Shares Sold by Lockheed Martin Investment Management Co.

Lockheed Martin Investment Management Co. reduced its holdings in shares of Schlumberger Limited (NYSE:SLB) by 45.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 39,930 shares of the oil and gas company’s stock after selling 33,180 shares during the quarter. Lockheed Martin Investment Management Co.’s holdings in Schlumberger were worth $1,531,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Pacer Advisors Inc. boosted its holdings in Schlumberger by 12,289.6% in the fourth quarter. Pacer Advisors Inc. now owns 13,043,359 shares of the oil and gas company’s stock valued at $500,082,000 after purchasing an additional 12,938,082 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after buying an additional 1,916,851 shares in the last quarter. Scharf Investments LLC purchased a new position in shares of Schlumberger in the 4th quarter valued at $52,607,000. Weiss Asset Management LP acquired a new stake in Schlumberger during the 3rd quarter worth $37,322,000. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Schlumberger in the fourth quarter valued at $25,481,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of NYSE SLB opened at $41.23 on Wednesday. The company’s fifty day moving average is $40.42 and its two-hundred day moving average is $42.43. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. The firm has a market capitalization of $57.76 billion, a P/E ratio of 13.26, a PEG ratio of 9.55 and a beta of 1.51. Schlumberger Limited has a one year low of $36.52 and a one year high of $55.69.

Schlumberger (NYSE:SLB) last issued its earnings results 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 net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $9.28 billion for the quarter, compared to analyst estimates of $9.24 billion. During the same period in the prior year, the business posted $0.86 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. Analysts forecast 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. Investors of record on Wednesday, February 5th will be paid a $0.285 dividend. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. This represents a $1.14 annualized dividend and a yield of 2.76%. The ex-dividend date of this dividend is Wednesday, February 5th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Buying and Selling

In related news, EVP Mogharbel Khaled Al sold 123,097 shares of Schlumberger stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $44.09, for a total transaction of $5,427,346.73. Following the completion of the transaction, the executive vice president now directly owns 184,626 shares in the company, valued at $8,140,160.34. The trade was a 40.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Vijay Kasibhatla sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $43.94, for a total value of $1,098,500.00. Following the completion of the sale, the director now directly owns 49,595 shares in the company, valued at approximately $2,179,204.30. The trade was a 33.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 263,782 shares of company stock valued at $11,442,229. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on SLB shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $57.00 price objective on shares of Schlumberger in a report on Tuesday, January 21st. JPMorgan Chase & Co. lifted their price target on Schlumberger from $48.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Piper Sandler began coverage on Schlumberger in a report on Thursday, December 19th. They issued a “neutral” rating and a $47.00 price objective for the company. Citigroup lifted their target price on shares of Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a report on Tuesday, January 21st. Finally, Susquehanna lowered their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $55.81.

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.