Lyell Wealth Management LP Sells 60,601 Shares of Schlumberger Limited (NYSE:SLB)

Lyell Wealth Management LP trimmed its stake in Schlumberger Limited (NYSE:SLB) by 28.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 152,641 shares of the oil and gas company’s stock after selling 60,601 shares during the quarter. Lyell Wealth Management LP’s holdings in Schlumberger were worth $5,852,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Global Retirement Partners LLC boosted its stake in shares of Schlumberger by 9.3% during the 4th quarter. Global Retirement Partners LLC now owns 5,383 shares of the oil and gas company’s stock worth $206,000 after acquiring an additional 457 shares during the period. Callahan Advisors LLC boosted its stake in shares of Schlumberger by 0.7% during the 4th quarter. Callahan Advisors LLC now owns 251,124 shares of the oil and gas company’s stock worth $9,628,000 after acquiring an additional 1,694 shares during the period. Hara Capital LLC boosted its stake in shares of Schlumberger by 697.0% during the 4th quarter. Hara Capital LLC now owns 78,977 shares of the oil and gas company’s stock worth $3,028,000 after acquiring an additional 69,068 shares during the period. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in shares of Schlumberger by 10.9% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 46,637 shares of the oil and gas company’s stock worth $1,788,000 after acquiring an additional 4,594 shares during the period. Finally, BKM Wealth Management LLC boosted its stake in shares of Schlumberger by 4.2% during the 4th quarter. BKM Wealth Management LLC now owns 13,705 shares of the oil and gas company’s stock worth $525,000 after acquiring an additional 558 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $41.44, for a total value of $2,486,400.00. Following the completion of the transaction, the executive vice president now owns 210,502 shares of the company’s stock, valued at $8,723,202.88. This represents a 22.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Bejar Carmen Rando sold 5,524 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $40.41, for a total value of $223,224.84. Following the completion of the sale, the insider now owns 30,829 shares in the company, valued at $1,245,799.89. This trade represents a 15.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 263,782 shares of company stock valued at $11,442,229 in the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

SLB has been the subject of several research analyst reports. BMO Capital Markets reduced their target price on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Citigroup boosted their price target on Schlumberger from $50.00 to $54.00 and gave the company a “buy” rating in a research note on Tuesday, January 21st. Sanford C. Bernstein upgraded Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Barclays reduced their price target on Schlumberger from $61.00 to $53.00 and set an “overweight” rating for the company in a research note on Wednesday, December 18th. Finally, Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Six 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $55.81.

Schlumberger Price Performance

Schlumberger stock opened at $42.63 on Wednesday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.11 and a current ratio of 1.45. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69. The stock has a market capitalization of $59.71 billion, a P/E ratio of 13.71, a price-to-earnings-growth ratio of 9.90 and a beta of 1.51. The stock has a fifty day moving average of $40.12 and a 200-day moving average of $41.91.

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

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Wednesday, February 5th will be issued a $0.285 dividend. This represents a $1.14 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Wednesday, February 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.28. Schlumberger’s dividend payout ratio is presently 36.66%.

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.