Cresset Asset Management LLC Trims Holdings in Schlumberger Limited (NYSE:SLB)

Cresset Asset Management LLC lowered its stake in shares of Schlumberger Limited (NYSE:SLB - Free Report) by 67.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 36,832 shares of the oil and gas company's stock after selling 75,579 shares during the quarter. Cresset Asset Management LLC's holdings in Schlumberger were worth $1,419,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SLB. YANKCOM Partnership purchased a new position in shares of Schlumberger during the fourth quarter valued at about $31,000. Stonebridge Financial Group LLC purchased a new stake in Schlumberger in the fourth quarter worth about $32,000. Golden State Wealth Management LLC purchased a new stake in Schlumberger in the fourth quarter worth about $34,000. Hager Investment Management Services LLC bought a new position in shares of Schlumberger in the fourth quarter worth approximately $38,000. Finally, Bogart Wealth LLC lifted its stake in shares of Schlumberger by 468.9% in the fourth quarter. Bogart Wealth LLC now owns 1,024 shares of the oil and gas company's stock worth $39,000 after buying an additional 844 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on SLB. Citigroup increased their price objective on shares of Schlumberger from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Tuesday, January 21st. Wells Fargo & Company upgraded shares of Schlumberger from an "equal weight" rating to an "overweight" rating and decreased their price target for the stock from $46.00 to $44.00 in a research report on Tuesday, April 8th. Evercore ISI reiterated an "in-line" rating and issued a $44.00 price target (down from $62.00) on shares of Schlumberger in a research report on Wednesday, January 15th. Barclays reduced their price objective on shares of Schlumberger from $53.00 to $48.00 and set an "overweight" rating for the company in a research note on Friday, April 25th. Finally, TD Cowen increased their price objective on shares of Schlumberger from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $53.32.

Insider Transactions at Schlumberger

In other news, insider Gavin Rennick sold 26,990 shares of the firm's stock in a transaction that occurred on 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 transaction, the insider now directly owns 53,584 shares in the company, valued at approximately $2,192,657.28. This trade represents a 33.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Aparna Raman sold 25,133 shares of the firm's 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 transaction, the insider now owns 31,031 shares in the company, valued at approximately $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. Insiders own 0.26% of the company's stock.

Schlumberger Trading Down 0.2%

SLB stock traded down $0.07 during mid-day trading on Wednesday, hitting $36.04. 10,516,908 shares of the company were exchanged, compared to its average volume of 13,444,442. The company has a quick ratio of 1.11, a current ratio of 1.45 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $49.02 billion, a P/E ratio of 11.59, a PEG ratio of 10.10 and a beta of 1.06. The business has a fifty day simple moving average of $37.04 and a 200-day simple moving average of $39.67. Schlumberger Limited has a 12-month low of $31.11 and a 12-month high of $50.94.

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

Schlumberger Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 10th. Shareholders of record on Wednesday, June 4th will be issued a dividend of $0.285 per share. The ex-dividend date is Wednesday, June 4th. This represents a $1.14 dividend on an annualized basis and a yield of 3.16%. Schlumberger's payout ratio is currently 38.64%.

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.