RNC Capital Management LLC Sells 23,332 Shares of Schlumberger Limited (NYSE:SLB)

RNC Capital Management LLC lowered its holdings in shares of Schlumberger Limited (NYSE:SLB) by 43.4% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 30,471 shares of the oil and gas company’s stock after selling 23,332 shares during the period. RNC Capital Management LLC’s holdings in Schlumberger were worth $1,168,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Grove Bank & Trust raised its holdings 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 buying an additional 224 shares in the last quarter. CX Institutional raised its holdings in shares of Schlumberger by 2.4% during the 4th quarter. CX Institutional now owns 10,370 shares of the oil and gas company’s stock worth $398,000 after buying an additional 244 shares in the last quarter. GM Advisory Group LLC increased its holdings in Schlumberger by 3.8% in the 3rd quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock worth $281,000 after purchasing an additional 247 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in Schlumberger by 0.5% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 56,714 shares of the oil and gas company’s stock worth $2,174,000 after purchasing an additional 262 shares in the last quarter. Finally, Cordatus Wealth Management LLC increased its holdings in Schlumberger by 2.1% in the 3rd 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 in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Transactions 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 transaction of $1,897,357.56. Following the transaction, the insider now owns 235,024 shares in the company, valued at $10,331,655.04. The trade was a 15.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction, the vice president now owns 11,240 shares in the company, valued at approximately $496,808. This represents a 38.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 263,782 shares of company stock worth $11,442,229. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on SLB. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Susquehanna lowered their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. Wells Fargo & Company decreased their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. BMO Capital Markets decreased their price target on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Jefferies Financial Group decreased their price target on Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research note on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.81.

Schlumberger Trading Down 1.8 %

Shares of SLB stock opened at $40.07 on Friday. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The business has a 50-day moving average price of $40.32 and a two-hundred day moving average price of $42.36. Schlumberger Limited has a 12-month low of $36.52 and a 12-month high of $55.69. The firm has a market cap of $56.13 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 9.55 and a beta of 1.51.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, January 17th. The oil and gas company reported $0.92 earnings per share (EPS) 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 quarter in the previous year, the company posted $0.86 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. Equities analysts anticipate that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Wednesday, February 5th will be issued a $0.285 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $1.14 annualized dividend and a dividend yield of 2.85%. This is an increase from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s payout ratio is currently 35.37%.

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.