Clifford Swan Investment Counsel LLC Lowers Holdings in Schlumberger Limited (NYSE:SLB)

Clifford Swan Investment Counsel LLC trimmed its position in shares of Schlumberger Limited (NYSE:SLB) by 4.5% in the 4th quarter, Holdings Channel.com reports. The firm owned 371,683 shares of the oil and gas company’s stock after selling 17,672 shares during the period. Clifford Swan Investment Counsel LLC’s holdings in Schlumberger were worth $19,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BluePath Capital Management LLC acquired a new position in shares of Schlumberger during the 3rd quarter worth approximately $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Schlumberger in the 4th quarter valued at approximately $26,000. Janiczek Wealth Management LLC raised its position in shares of 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 in the last quarter. Pinnacle Bancorp Inc. raised its stake in Schlumberger by 64.3% during the 4th quarter. Pinnacle Bancorp Inc. now owns 746 shares of the oil and gas company’s stock worth $39,000 after acquiring an additional 292 shares in the last quarter. Finally, Legacy Bridge LLC lifted its holdings in shares of Schlumberger by 39.4% in the 4th quarter. Legacy Bridge LLC now owns 853 shares of the oil and gas company’s stock valued at $44,000 after purchasing an additional 241 shares during the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Price Performance

Shares of SLB traded up $0.08 during trading hours on Friday, hitting $47.66. The stock had a trading volume of 11,007,407 shares, compared to its average volume of 9,961,223. The stock has a market capitalization of $68.12 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 0.92 and a beta of 1.64. The company’s fifty day moving average is $51.63 and its two-hundred day moving average is $51.67. 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 released its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. During the same period in the prior year, the company posted $0.63 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. On average, analysts anticipate that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued a $0.275 dividend. 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 dividend on an annualized basis and a dividend yield of 2.31%. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SLB. Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Susquehanna reissued a “positive” rating and issued a $77.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a report on Monday, April 1st. Wells Fargo & Company downgraded Schlumberger from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $68.00 to $53.00 in a report on Monday, April 29th. Finally, Barclays decreased their price target on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a report on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $68.72.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Abdellah Merad sold 50,000 shares of the firm’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 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 available at the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction that occurred on 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 directly owns 242,932 shares in the company, valued at $11,816,212.48. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.