Evanson Asset Management LLC Sells 1,260 Shares of Schlumberger Limited (NYSE:SLB)

Evanson Asset Management LLC cut its holdings in Schlumberger Limited (NYSE:SLB) by 11.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 9,315 shares of the oil and gas company’s stock after selling 1,260 shares during the quarter. Evanson Asset Management LLC’s holdings in Schlumberger were worth $485,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC bought a new position in Schlumberger in the 1st quarter valued at about $25,000. Cetera Investment Advisers boosted its position in Schlumberger by 35.3% in the first quarter. Cetera Investment Advisers now owns 39,287 shares of the oil and gas company’s stock valued at $1,623,000 after buying an additional 10,240 shares in the last quarter. Dakota Wealth Management bought a new position in shares of Schlumberger in the 1st quarter valued at $232,000. Sequoia Financial Advisors LLC acquired a new position in Schlumberger in the 1st quarter worth about $419,000. Finally, Baird Financial Group Inc. boosted its stake in shares of Schlumberger by 2.9% during the first quarter. Baird Financial Group Inc. now owns 112,003 shares of the oil and gas company’s stock valued at $4,627,000 after purchasing an additional 3,209 shares in the last quarter. 81.99% of the stock is owned by institutional investors.

Insider Transactions at Schlumberger

In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on 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 sale, the chief financial officer now owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Schlumberger news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.64, for a total value of $304,000.00. Following the sale, the chief financial officer now directly owns 242,932 shares in the company, valued at approximately $11,816,212.48. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president now directly owns 261,507 shares in the company, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. Insiders sold a total of 172,191 shares of company stock valued at $8,636,322 in the last quarter. 0.26% of the stock is owned by insiders.

Schlumberger Price Performance

Schlumberger stock traded down $0.09 during midday trading on Thursday, hitting $54.81. 7,689,950 shares of the company’s stock were exchanged, compared to its average volume of 11,501,060. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.00 and a current ratio of 1.32. The stock has a 50-day moving average price of $50.37 and a two-hundred day moving average price of $53.18. The company has a market cap of $78.24 billion, a P/E ratio of 18.82, a PEG ratio of 0.97 and a beta of 1.59. Schlumberger Limited has a 52-week low of $42.73 and a 52-week high of $62.12.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. The business had revenue of $8.99 billion during the quarter, compared to analysts’ expectations of $8.96 billion. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 EPS. On average, equities research analysts forecast that Schlumberger Limited will post 3.54 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 4th. Shareholders of record on Wednesday, February 7th will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.82%. The ex-dividend date is Tuesday, February 6th. Schlumberger’s payout ratio is 34.25%.

Wall Street Analyst Weigh In

SLB has been the topic of a number of analyst reports. Stifel Nicolaus upped their price objective on shares of Schlumberger from $63.00 to $64.00 and gave the company a “buy” rating in a research note on Monday, January 22nd. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price target on shares of Schlumberger in a report on Thursday, February 8th. Susquehanna reiterated a “positive” rating and set a $77.00 price target on shares of Schlumberger in a research note on Tuesday, February 13th. Barclays dropped their price objective on Schlumberger from $77.00 to $74.00 and set an “overweight” rating on the stock in a research note on Monday, January 22nd. Finally, Wells Fargo & Company increased their target price on shares of Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. One analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.87.

Schlumberger Company 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.