Lincoln National Corp Reduces Stock Position in Schlumberger Limited (NYSE:SLB)

Lincoln National Corp decreased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 19.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,770 shares of the oil and gas company’s stock after selling 4,169 shares during the period. Lincoln National Corp’s holdings in Schlumberger were worth $925,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Fielder Capital Group LLC purchased a new position in Schlumberger during the 4th quarter valued at $620,000. Maryland State Retirement & Pension System raised its stake in Schlumberger by 1.1% in the fourth quarter. Maryland State Retirement & Pension System now owns 110,911 shares of the oil and gas company’s stock worth $5,772,000 after buying an additional 1,181 shares in the last quarter. Private Advisor Group LLC lifted its holdings in Schlumberger by 11.1% in the fourth quarter. Private Advisor Group LLC now owns 111,744 shares of the oil and gas company’s stock worth $5,815,000 after buying an additional 11,205 shares during the period. MeadowBrook Investment Advisors LLC bought a new stake in Schlumberger during the 4th quarter valued at approximately $176,000. Finally, Spire Wealth Management grew its holdings in shares of Schlumberger by 3.0% during the 4th quarter. Spire Wealth Management now owns 110,588 shares of the oil and gas company’s stock worth $5,490,000 after acquiring an additional 3,243 shares during the period. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Price Performance

NYSE SLB opened at $48.50 on Friday. Schlumberger Limited has a one year low of $42.73 and a one year high of $62.12. The stock has a 50-day moving average of $51.61 and a 200 day moving average of $51.49. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. The company has a market capitalization of $69.32 billion, a price-to-earnings ratio of 16.11, a PEG ratio of 0.92 and a beta of 1.64.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, April 19th. The oil and gas company reported $0.75 EPS 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 during the quarter, compared to analyst estimates of $8.70 billion. During the same quarter in the previous year, the company posted $0.63 earnings per share. Schlumberger’s revenue was up 12.6% compared to the same quarter last year. On average, sell-side analysts forecast that Schlumberger Limited will post 3.51 EPS for the current year.

Schlumberger Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be issued 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 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Wednesday, June 5th. Schlumberger’s dividend payout ratio is currently 36.54%.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the sale, the executive vice president now owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $48.64, for a total value of $304,000.00. Following the transaction, the chief financial officer now owns 242,932 shares of the company’s stock, valued at $11,816,212.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Abdellah Merad sold 50,000 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of a number of research analyst reports. Royal Bank of Canada raised their target price on Schlumberger from $66.00 to $69.00 and gave the company an “outperform” rating in a research note on Wednesday, April 3rd. Benchmark reissued a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Morgan Stanley reaffirmed an “overweight” rating and issued a $65.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. HSBC reissued a “buy” rating and set a $71.00 price target on shares of Schlumberger in a research report on Thursday, April 4th. Finally, BMO Capital Markets cut their price objective on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $68.72.

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.