W.H. Cornerstone Investments Inc. Sells 5,507 Shares of Schlumberger Limited (NYSE:SLB)

W.H. Cornerstone Investments Inc. trimmed its stake in shares of Schlumberger Limited (NYSE:SLB) by 30.6% during the fourth quarter, HoldingsChannel.com reports. The firm owned 12,514 shares of the oil and gas company’s stock after selling 5,507 shares during the quarter. W.H. Cornerstone Investments Inc.’s holdings in Schlumberger were worth $651,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. BluePath Capital Management LLC bought a new stake in shares of Schlumberger during the third quarter valued at about $25,000. Turtle Creek Wealth Advisors LLC purchased a new position in Schlumberger during the fourth quarter valued at approximately $26,000. Janiczek Wealth Management LLC increased its holdings in Schlumberger by 1,180.4% during the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock worth $34,000 after acquiring an additional 602 shares during the period. Pinnacle Bancorp Inc. lifted its stake in Schlumberger by 64.3% in the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after purchasing an additional 292 shares in the last quarter. Finally, Motco boosted its holdings in Schlumberger by 52.7% in the 3rd quarter. Motco now owns 823 shares of the oil and gas company’s stock valued at $48,000 after purchasing an additional 284 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

SLB has been the topic of a number of recent analyst reports. Morgan Stanley reissued an “overweight” rating and set a $65.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. BMO Capital Markets dropped their target price on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Monday, April 22nd. TD Cowen decreased their price target on shares of Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, April 22nd. Barclays dropped their price objective on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and an average price target of $68.72.

Schlumberger Trading Up 0.2 %

Shares of NYSE:SLB traded up $0.08 during midday trading on Friday, hitting $47.66. 11,007,407 shares of the stock traded hands, compared to its average volume of 9,961,223. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. The stock 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. Schlumberger Limited has a one year low of $42.73 and a one year high of $62.12. The business’s 50 day moving average is $51.63 and its two-hundred day moving average is $51.67.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting 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%. Schlumberger’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.63 EPS. As a group, research analysts forecast that Schlumberger Limited will post 3.51 earnings per share for the current year.

Schlumberger Increases Dividend

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

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.