Sawgrass Asset Management LLC Has $400,000 Stock Position in Schlumberger Limited (NYSE:SLB)

Sawgrass Asset Management LLC lessened its position in Schlumberger Limited (NYSE:SLB) by 7.8% in the fourth quarter, HoldingsChannel.com reports. The fund owned 7,689 shares of the oil and gas company’s stock after selling 646 shares during the period. Sawgrass Asset Management LLC’s holdings in Schlumberger were worth $400,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Schlumberger Stock Performance

Shares of NYSE SLB traded up $0.21 during mid-day trading on Tuesday, reaching $48.17. 8,549,661 shares of the company’s stock were exchanged, compared to its average volume of 11,124,442. The firm has a market capitalization of $68.85 billion, a price-to-earnings ratio of 16.00, a price-to-earnings-growth ratio of 0.92 and a beta of 1.64. The firm has a 50-day moving average price of $51.62 and a two-hundred day moving average price of $51.51. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. 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 data on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The business had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. Analysts predict that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Wednesday, June 5th. This is a boost from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s dividend payout ratio is currently 36.54%.

Insider Transactions at Schlumberger

In related 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 value of $2,426,000.00. Following 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 Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction on 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 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 accessible through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was 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 owns 242,932 shares of the company’s stock, valued at approximately $11,816,212.48. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SLB. Susquehanna reiterated a “positive” rating and set a $77.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Barclays lowered their price objective on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Royal Bank of Canada upped their target price on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a report on Wednesday, April 3rd. Finally, Morgan Stanley restated an “overweight” rating and set a $65.00 price target on shares of Schlumberger in a report on Monday, April 22nd. Two investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $68.72.

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.