King Luther Capital Management Corp Sells 68,243 Shares of Schlumberger Limited (NYSE:SLB)

King Luther Capital Management Corp cut its position in Schlumberger Limited (NYSE:SLB - Free Report) by 52.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 62,428 shares of the oil and gas company's stock after selling 68,243 shares during the period. King Luther Capital Management Corp's holdings in Schlumberger were worth $3,249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Turtle Creek Wealth Advisors LLC acquired a new position in Schlumberger during the fourth quarter worth $26,000. Janiczek Wealth Management LLC boosted its stake 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 worth $34,000 after buying an additional 602 shares during the last quarter. Pinnacle Bancorp Inc. boosted its stake in 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 buying an additional 292 shares during the last quarter. American National Bank boosted its stake in Schlumberger by 745.5% during the fourth quarter. American National Bank now owns 744 shares of the oil and gas company's stock worth $39,000 after buying an additional 656 shares during the last quarter. Finally, Legacy Bridge LLC boosted its stake in Schlumberger by 39.4% during the fourth quarter. Legacy Bridge LLC now owns 853 shares of the oil and gas company's stock worth $44,000 after buying an additional 241 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. TD Cowen reduced their target price on Schlumberger from $64.00 to $63.00 and set a "buy" rating on the stock in a research report on Monday, April 22nd. BMO Capital Markets reduced their target price on Schlumberger from $66.00 to $64.00 and set an "outperform" rating on the stock 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. Wells Fargo & Company downgraded Schlumberger from an "overweight" rating to an "equal weight" rating and reduced their target price for the company from $68.00 to $53.00 in a research report on Monday, April 29th. Finally, Susquehanna restated a "positive" rating and issued a $77.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $68.72.

Schlumberger Stock Down 0.3 %

NYSE SLB traded down $0.16 during trading hours on Thursday, hitting $46.32. 8,763,785 shares of the company were exchanged, compared to its average volume of 10,704,063. The company has a 50 day moving average of $51.05 and a two-hundred day moving average of $50.87. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a 52-week low of $42.73 and a 52-week high of $62.12. The firm has a market cap of $66.21 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.93 and a beta of 1.64.

Schlumberger (NYSE:SLB - Get Free Report) last issued its quarterly earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting the consensus estimate of $0.75. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company had revenue of $8.71 billion for the quarter, compared to the consensus estimate of $8.70 billion. During the same quarter in the prior year, the business earned $0.63 EPS. Schlumberger's revenue was up 12.6% on a year-over-year basis. Equities research analysts anticipate that Schlumberger Limited will post 3.51 earnings per share 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 given a dividend of $0.275 per share. This is a boost from Schlumberger's previous quarterly dividend of $0.25. This represents a $1.10 annualized dividend and a dividend yield of 2.37%. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger's dividend payout ratio is currently 36.54%.

Insider Transactions at Schlumberger

In other news, insider Gavin Rennick sold 38,083 shares of the company's stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the completion of the transaction, the insider now directly owns 45,851 shares of the company's stock, valued at approximately $2,213,686.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, insider Gavin Rennick sold 38,083 shares of the company's stock in a transaction dated Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total value of $1,838,647.24. Following the completion of the sale, the insider now directly owns 45,851 shares of the company's stock, valued at approximately $2,213,686.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Abdellah Merad sold 50,000 shares of the company's stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 261,507 shares of the company's stock, valued at $12,688,319.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 157,428 shares of company stock valued at $7,613,612. 0.26% of the stock is currently owned by corporate insiders.

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.