Ameriprise Financial Inc. Sells 853,821 Shares of Schlumberger Limited (NYSE:SLB)

Ameriprise Financial Inc. lessened its holdings in Schlumberger Limited (NYSE:SLB - Free Report) by 28.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,171,165 shares of the oil and gas company's stock after selling 853,821 shares during the quarter. Ameriprise Financial Inc. owned 0.15% of Schlumberger worth $83,245,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Ancora Advisors LLC boosted its stake in shares of Schlumberger by 222.0% in the 4th quarter. Ancora Advisors LLC now owns 36,939 shares of the oil and gas company's stock valued at $1,416,000 after purchasing an additional 25,468 shares during the last quarter. Aptus Capital Advisors LLC lifted its holdings in Schlumberger by 17.2% in the fourth quarter. Aptus Capital Advisors LLC now owns 125,603 shares of the oil and gas company's stock valued at $4,818,000 after buying an additional 18,433 shares during the period. Anson Funds Management LP bought a new stake in Schlumberger during the fourth quarter valued at $958,000. Ariel Investments LLC bought a new position in shares of Schlumberger in the 4th quarter worth about $734,000. Finally, AlTi Global Inc. lifted its stake in shares of Schlumberger by 3.5% in the 4th quarter. AlTi Global Inc. now owns 34,217 shares of the oil and gas company's stock valued at $1,312,000 after purchasing an additional 1,169 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Performance

Shares of SLB traded up $0.01 during trading hours on Wednesday, hitting $36.12. The company's stock had a trading volume of 4,932,381 shares, compared to its average volume of 13,402,661. The business has a 50 day simple moving average of $37.04 and a two-hundred day simple moving average of $39.67. Schlumberger Limited has a 52-week low of $31.11 and a 52-week high of $50.94. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.45 and a quick ratio of 1.11. The company has a market cap of $49.13 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 10.10 and a beta of 1.06.

Schlumberger (NYSE:SLB - Get Free Report) last posted its earnings results on Friday, April 25th. The oil and gas company reported $0.72 earnings per share for the quarter, missing analysts' consensus estimates of $0.73 by ($0.01). Schlumberger had a net margin of 12.29% and a return on equity of 21.90%. The company had revenue of $8.49 billion for the quarter, compared to analysts' expectations of $8.64 billion. During the same period in the previous year, the firm earned $0.75 EPS. The firm's quarterly revenue was down 2.5% compared to the same quarter last year. On average, equities analysts expect that Schlumberger Limited will post 3.38 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 10th. Investors of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. This represents a $1.14 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date of this dividend is Wednesday, June 4th. Schlumberger's dividend payout ratio (DPR) is presently 38.64%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on SLB shares. Stifel Nicolaus dropped their target price on shares of Schlumberger from $58.00 to $54.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Barclays reduced their target price on Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. BMO Capital Markets cut their price target on Schlumberger from $53.00 to $48.00 in a report on Thursday, January 16th. Citigroup boosted their price objective on Schlumberger from $50.00 to $54.00 and gave the company a "buy" rating in a report on Tuesday, January 21st. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $57.00 target price on shares of Schlumberger in a report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $53.32.

Insiders Place Their Bets

In other Schlumberger news, insider Gavin Rennick sold 26,990 shares of the company's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $40.92, for a total transaction of $1,104,430.80. Following the completion of the sale, the insider now directly owns 53,584 shares in the company, valued at $2,192,657.28. This represents a 33.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Aparna Raman sold 25,133 shares of the business's stock in a transaction dated Friday, March 28th. The shares were sold at an average price of $42.28, for a total value of $1,062,623.24. Following the completion of the sale, the insider now directly owns 31,031 shares of the company's stock, valued at approximately $1,311,990.68. This trade represents a 44.75% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

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.