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

Ameriprise Financial Inc. cut its stake in Schlumberger Limited (NYSE:SLB - Free Report) by 28.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,171,165 shares of the oil and gas company's stock after selling 853,821 shares during the period. Ameriprise Financial Inc. owned approximately 0.15% of Schlumberger worth $83,245,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. YANKCOM Partnership purchased a new stake in Schlumberger during the 4th quarter worth $31,000. Stonebridge Financial Group LLC purchased a new stake in Schlumberger during the 4th quarter worth $32,000. Golden State Wealth Management LLC purchased a new position in Schlumberger in the 4th quarter valued at about $34,000. Hager Investment Management Services LLC acquired a new stake in shares of Schlumberger during the fourth quarter valued at about $38,000. Finally, Bogart Wealth LLC increased its position in shares of Schlumberger by 468.9% during the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock worth $39,000 after acquiring an additional 844 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company's stock.

Schlumberger Stock Performance

SLB stock traded up $0.19 on Friday, reaching $34.51. The company's stock had a trading volume of 7,407,388 shares, compared to its average volume of 13,430,644. 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 capitalization of $46.94 billion, a P/E ratio of 11.10, a price-to-earnings-growth ratio of 10.10 and a beta of 1.06. The firm has a fifty day moving average of $37.18 and a two-hundred day moving average of $39.74.

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

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Stockholders of record on Wednesday, June 4th will be issued a $0.285 dividend. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 annualized dividend and a dividend yield of 3.30%. Schlumberger's dividend payout ratio (DPR) is 38.64%.

Wall Street Analyst Weigh In

Several research firms have issued reports on SLB. JPMorgan Chase & Co. lifted their price objective on Schlumberger from $48.00 to $50.00 and gave the stock an "overweight" rating in a report on Tuesday, January 21st. Royal Bank of Canada reiterated an "outperform" rating and set a $57.00 price objective on shares of Schlumberger in a research note on Tuesday, January 21st. Wells Fargo & Company upgraded shares of Schlumberger from an "equal weight" rating to an "overweight" rating and cut their target price for the company from $46.00 to $44.00 in a research note on Tuesday, April 8th. BMO Capital Markets decreased their price target on Schlumberger from $53.00 to $48.00 in a research note on Thursday, January 16th. Finally, Evercore ISI restated an "in-line" rating and set a $44.00 price objective (down previously from $62.00) on shares of Schlumberger in a research note on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $53.32.

Insider Transactions at Schlumberger

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