Noesis Capital Mangement Corp Sells 7,158 Shares of Schlumberger Limited (NYSE:SLB)

Noesis Capital Mangement Corp trimmed its position in Schlumberger Limited (NYSE:SLB) by 9.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 71,563 shares of the oil and gas company’s stock after selling 7,158 shares during the quarter. Noesis Capital Mangement Corp’s holdings in Schlumberger were worth $3,724,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Schlumberger by 1.1% during the third quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock valued at $7,609,804,000 after acquiring an additional 1,412,821 shares during the last quarter. FMR LLC increased its holdings in Schlumberger by 1.1% during the 3rd quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock valued at $1,584,099,000 after purchasing an additional 282,709 shares during the period. Morgan Stanley raised its holdings in shares of Schlumberger by 1.9% during the third quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock valued at $920,561,000 after acquiring an additional 292,817 shares in the last quarter. Invesco Ltd. lifted its stake in Schlumberger by 30.5% in the third quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock worth $488,020,000 after acquiring an additional 1,954,620 shares during the period. Finally, Sanders Capital LLC boosted its holdings in Schlumberger by 34.9% in the third quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock valued at $469,693,000 after acquiring an additional 2,085,506 shares in the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Up 0.2 %

Shares of SLB traded up $0.08 on Friday, hitting $47.66. 11,007,407 shares of the stock traded hands, compared to its average volume of 9,961,223. Schlumberger Limited has a one year low of $42.73 and a one year high of $62.12. The company has a market capitalization of $68.12 billion, a PE ratio of 15.83, a P/E/G ratio of 0.92 and a beta of 1.64. The business has a 50 day simple moving average of $51.63 and a 200 day simple moving average of $51.79. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting analysts’ consensus estimates of $0.75. The business had revenue of $8.71 billion during the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 EPS. As a group, equities analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 annualized dividend and a yield of 2.31%. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is currently 36.54%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Susquehanna restated a “positive” rating and issued a $77.00 price objective on shares of Schlumberger in a report on Monday, April 22nd. BMO Capital Markets lowered their price objective on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Morgan Stanley reiterated an “overweight” rating and set a $65.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Benchmark restated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Finally, TD Cowen reduced their price target on Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.72.

Insider Activity

In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction of $304,000.00. Following the completion of the transaction, the chief financial officer now owns 242,932 shares in the company, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.