GAMMA Investing LLC Sells 977 Shares of Schlumberger Limited (NYSE:SLB)

GAMMA Investing LLC lowered its holdings in Schlumberger Limited (NYSE:SLB) by 6.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 14,893 shares of the oil and gas company’s stock after selling 977 shares during the quarter. GAMMA Investing LLC’s holdings in Schlumberger were worth $571,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Victory Capital Management Inc. increased its position in Schlumberger by 26.3% in the 2nd quarter. Victory Capital Management Inc. now owns 752,453 shares of the oil and gas company’s stock valued at $35,501,000 after acquiring an additional 156,788 shares in the last quarter. New York Life Investment Management LLC increased its holdings in shares of Schlumberger by 1.1% in the second quarter. New York Life Investment Management LLC now owns 218,121 shares of the oil and gas company’s stock valued at $10,291,000 after purchasing an additional 2,380 shares in the last quarter. Private Advisor Group LLC raised its position in Schlumberger by 6.7% in the 2nd quarter. Private Advisor Group LLC now owns 141,195 shares of the oil and gas company’s stock worth $6,662,000 after purchasing an additional 8,868 shares during the last quarter. Strategic Financial Concepts LLC bought a new position in Schlumberger in the 2nd quarter valued at $2,985,000. Finally, Acadian Asset Management LLC increased its stake in shares of Schlumberger by 1,751.0% in the 2nd quarter. Acadian Asset Management LLC now owns 159,893 shares of the oil and gas company’s stock valued at $7,539,000 after buying an additional 151,255 shares during the period. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently issued reports on SLB. Wells Fargo & Company decreased their price target on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating on the stock in a report on Tuesday, December 17th. Dbs Bank began coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price on the stock. Atb Cap Markets downgraded shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 10th. BMO Capital Markets reduced their price objective on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Finally, Griffin Securities downgraded Schlumberger from a “buy” rating to a “neutral” rating in a research note on Friday, December 20th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and a consensus price target of $58.25.

Insider Activity at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.26% of the stock is owned by insiders.

Schlumberger Price Performance

SLB stock opened at $38.59 on Monday. The stock has a 50-day moving average price of $41.12 and a two-hundred day moving average price of $43.32. Schlumberger Limited has a 1 year low of $36.52 and a 1 year high of $55.69. The stock has a market cap of $54.50 billion, a PE ratio of 12.41, a price-to-earnings-growth ratio of 1.42 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion during the quarter, compared to the consensus estimate of $9.27 billion. During the same period last year, the company earned $0.78 earnings per share. Schlumberger’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts forecast that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

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.