Lathrop Investment Management Corp Reduces Stock Position in Schlumberger Limited (NYSE:SLB)

Lathrop Investment Management Corp cut its holdings in shares of Schlumberger Limited (NYSE:SLB) by 4.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 224,128 shares of the oil and gas company’s stock after selling 10,773 shares during the quarter. Schlumberger makes up approximately 2.4% of Lathrop Investment Management Corp’s portfolio, making the stock its 20th biggest holding. Lathrop Investment Management Corp’s holdings in Schlumberger were worth $11,664,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Exchange Traded Concepts LLC grew its position in shares of Schlumberger by 3,008.8% in the 3rd quarter. Exchange Traded Concepts LLC now owns 6,031 shares of the oil and gas company’s stock worth $352,000 after acquiring an additional 5,837 shares in the last quarter. Koshinski Asset Management Inc. acquired a new position in Schlumberger during the 3rd quarter valued at approximately $201,000. Asset Management One Co. Ltd. boosted its position in Schlumberger by 0.6% during the 3rd quarter. Asset Management One Co. Ltd. now owns 571,549 shares of the oil and gas company’s stock valued at $33,321,000 after purchasing an additional 3,306 shares during the period. Ballentine Partners LLC boosted its position in Schlumberger by 3.1% during the 3rd quarter. Ballentine Partners LLC now owns 9,060 shares of the oil and gas company’s stock valued at $528,000 after purchasing an additional 269 shares during the period. Finally, KRS Capital Management LLC boosted its position in Schlumberger by 22.4% during the 3rd quarter. KRS Capital Management LLC now owns 7,135 shares of the oil and gas company’s stock valued at $416,000 after purchasing an additional 1,308 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SLB has been the subject of a number of analyst reports. Stifel Nicolaus restated a “buy” rating and set a $64.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. TD Cowen reduced their price objective on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research report on Monday, April 22nd. Benchmark reaffirmed a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Susquehanna reaffirmed a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Finally, Barclays cut their target price on Schlumberger from $74.00 to $70.00 and set an “overweight” rating on the stock in a research note on Thursday, April 4th. One analyst has rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.67.

Insider Activity

In other news, CFO Stephane Biguet sold 6,250 shares of Schlumberger stock in a transaction on Monday, January 29th. The stock was sold at an average price of $52.78, for a total transaction of $329,875.00. Following the transaction, the chief financial officer now owns 249,182 shares in the company, valued at $13,151,825.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the business’s 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 transaction, the executive vice president now owns 261,507 shares in the company, valued at $12,688,319.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the transaction, the chief financial officer now owns 249,182 shares in the company, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,545 shares of company stock worth $4,458,430. 0.26% of the stock is owned by corporate insiders.

Schlumberger Trading Down 0.5 %

Shares of Schlumberger stock traded down $0.24 on Friday, reaching $49.20. 8,250,858 shares of the company were exchanged, compared to its average volume of 9,808,635. The stock has a fifty day moving average price of $51.74 and a 200-day moving average price of $52.17. The firm has a market capitalization of $70.32 billion, a price-to-earnings ratio of 16.35, a price-to-earnings-growth ratio of 0.95 and a beta of 1.60. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a fifty-two week low of $42.73 and a fifty-two week high of $62.12.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.75. The company had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. Schlumberger’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 earnings per share. On average, analysts expect that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be issued 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 2.24%. Schlumberger’s payout ratio is currently 36.54%.

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.