Schlumberger Limited (NYSE:SLB) Shares Sold by Argyle Capital Management Inc.

Argyle Capital Management Inc. decreased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 21.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,483 shares of the oil and gas company’s stock after selling 8,100 shares during the period. Argyle Capital Management Inc.’s holdings in Schlumberger were worth $1,534,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Highland Capital Management LLC lifted its stake in Schlumberger by 2,494.0% in the 4th quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock valued at $5,278,000 after buying an additional 97,516 shares in the last quarter. Guinness Asset Management LTD lifted its stake in Schlumberger by 0.3% in the 3rd quarter. Guinness Asset Management LTD now owns 331,309 shares of the oil and gas company’s stock valued at $19,468,000 after buying an additional 965 shares in the last quarter. Nordea Investment Management AB lifted its stake in Schlumberger by 36.4% in the 4th quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock valued at $74,080,000 after buying an additional 380,185 shares in the last quarter. Allworth Financial LP lifted its stake in shares of Schlumberger by 3.8% during the 3rd quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock worth $324,000 after purchasing an additional 206 shares during the period. Finally, Asset Management One Co. Ltd. lifted its stake in shares of Schlumberger by 6.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock worth $31,726,000 after purchasing an additional 35,763 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Down 0.5 %

NYSE SLB traded down $0.24 during trading hours on Friday, hitting $49.20. The company had a trading volume of 8,250,858 shares, compared to its average volume of 9,808,635. Schlumberger Limited has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The company has a market capitalization of $70.32 billion, a price-to-earnings ratio of 16.35, a P/E/G ratio of 0.95 and a beta of 1.60. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The firm’s 50 day moving average is $51.74 and its 200 day moving average is $52.08.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The firm had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. During the same period in the prior year, the firm earned $0.63 EPS. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. Sell-side analysts anticipate that Schlumberger Limited will post 3.51 earnings per share for the current fiscal year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders 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 is an increase from Schlumberger’s previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 2.24%. Schlumberger’s dividend payout ratio (DPR) is currently 36.54%.

Insider Activity

In other news, insider Katharina Beumelburg sold 8,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.62, for a total transaction of $420,960.00. Following the completion of the sale, the insider now directly owns 15,581 shares in the company, valued at $819,872.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Katharina Beumelburg sold 8,000 shares of the firm’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.62, for a total transaction of $420,960.00. Following the completion of the sale, the insider now directly owns 15,581 shares in the company, valued at $819,872.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the transaction, the chief financial officer now directly owns 249,182 shares in the company, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. Insiders sold 90,545 shares of company stock worth $4,458,430 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

SLB has been the topic of a number of recent analyst reports. BMO Capital Markets reduced their price target on Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research note on Monday, April 22nd. Bank of America reduced their price target on Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Stifel Nicolaus reissued a “buy” rating and set a $64.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. The Goldman Sachs Group reissued a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Finally, Morgan Stanley reissued an “overweight” rating and set a $65.00 price target on shares of Schlumberger in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $69.67.

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.