Amalgamated Bank Sells 18,194 Shares of Schlumberger Limited (NYSE:SLB)

Amalgamated Bank lessened its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 5.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 344,983 shares of the oil and gas company's stock after selling 18,194 shares during the period. Amalgamated Bank's holdings in Schlumberger were worth $17,953,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. BluePath Capital Management LLC bought a new position in Schlumberger in the third quarter valued at $25,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Schlumberger in the fourth quarter worth approximately $26,000. Janiczek Wealth Management LLC grew its position in Schlumberger by 1,180.4% during the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company's stock valued at $34,000 after acquiring an additional 602 shares during the last quarter. Pinnacle Bancorp Inc. raised its stake in shares of Schlumberger by 64.3% during the fourth 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 worth $44,000 after acquiring an additional 241 shares during the last quarter. Institutional investors own 81.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on SLB. BMO Capital Markets decreased their target price on shares of Schlumberger from $66.00 to $64.00 and set an "outperform" rating on the stock in a research report on Monday, April 22nd. HSBC reissued a "buy" rating and issued a $71.00 target price on shares of Schlumberger in a research note on Thursday, April 4th. Royal Bank of Canada lifted their price target on Schlumberger from $66.00 to $69.00 and gave the stock an "outperform" rating in a research note on Wednesday, April 3rd. Wells Fargo & Company lowered Schlumberger from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $68.00 to $53.00 in a research note on Monday. Finally, TD Cowen decreased their target price on shares of Schlumberger from $64.00 to $63.00 and set a "buy" rating on the stock in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $68.72.

Schlumberger Stock Up 0.2 %

Shares of SLB traded up $0.08 on Friday, reaching $47.66. The stock had a trading volume of 10,999,773 shares, compared to its average volume of 11,168,643. The firm has a market capitalization of $68.12 billion, a price-to-earnings ratio of 15.83, a price-to-earnings-growth ratio of 0.91 and a beta of 1.64. The company has a 50-day simple moving average of $51.66 and a 200-day simple moving average of $51.87. Schlumberger Limited has a 12-month low of $42.73 and a 12-month high of $62.12. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37.

Schlumberger (NYSE:SLB - Get Free Report) last announced its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, meeting analysts' consensus estimates of $0.75. The firm had revenue of $8.71 billion for the quarter, compared to analysts' expectations of $8.70 billion. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The company's quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.63 EPS. Sell-side analysts predict that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a dividend of $0.275 per share. This is an increase from Schlumberger's previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.31%. Schlumberger's dividend payout ratio (DPR) is currently 36.54%.

Insider Activity

In related news, CFO Stephane Biguet sold 6,250 shares of the firm's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $48.64, for a total transaction 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Stephane Biguet sold 6,250 shares of the stock in a transaction 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 sale, the chief financial officer now directly owns 242,932 shares of the company's stock, valued at $11,816,212.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Abdellah Merad sold 50,000 shares of Schlumberger 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 completion of the transaction, the executive vice president now directly owns 261,507 shares of the company's stock, valued at approximately $12,688,319.64. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

About Schlumberger

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.

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