Crossmark Global Holdings Inc. Sells 2,247 Shares of Schlumberger Limited (NYSE:SLB)

Posted by Defense World Staff on Mar 30th, 2023

Crossmark Global Holdings Inc. trimmed its stake in shares of Schlumberger Limited (NYSE:SLB – Get Rating) by 3.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,836 shares of the oil and gas company’s stock after selling 2,247 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Schlumberger were worth $3,466,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Sawtooth Solutions LLC lifted its holdings in Schlumberger by 3.3% during the 3rd quarter. Sawtooth Solutions LLC now owns 12,150 shares of the oil and gas company’s stock worth $436,000 after purchasing an additional 388 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Schlumberger in the third quarter valued at about $180,000. Moody National Bank Trust Division boosted its position in shares of Schlumberger by 3.4% in the third quarter. Moody National Bank Trust Division now owns 29,675 shares of the oil and gas company’s stock valued at $1,065,000 after acquiring an additional 983 shares during the period. Texas Permanent School Fund grew its stake in shares of Schlumberger by 7.2% in the third quarter. Texas Permanent School Fund now owns 200,127 shares of the oil and gas company’s stock valued at $7,185,000 after acquiring an additional 13,430 shares in the last quarter. Finally, Clarius Group LLC increased its position in Schlumberger by 11.7% during the third quarter. Clarius Group LLC now owns 13,509 shares of the oil and gas company’s stock worth $485,000 after acquiring an additional 1,414 shares during the period. 80.22% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CFO Stephane Biguet sold 6,250 shares of the firm’s stock in a transaction dated Monday, March 20th. The stock was sold at an average price of $44.77, for a total transaction of $279,812.50. Following the completion of the transaction, the chief financial officer now directly owns 219,765 shares in the company, valued at $9,838,879.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction on Monday, March 20th. The shares were sold at an average price of $44.77, for a total value of $279,812.50. Following the sale, the chief financial officer now directly owns 219,765 shares of the company’s stock, valued at approximately $9,838,879.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Gavin Rennick sold 20,000 shares of the stock in a transaction on Wednesday, March 8th. The stock was sold at an average price of $54.10, for a total transaction of $1,082,000.00. Following the sale, the insider now owns 64,393 shares of the company’s stock, valued at $3,483,661.30. The disclosure for this sale can be found here. In the last three months, insiders have sold 265,453 shares of company stock valued at $14,955,915. 0.23% of the stock is currently owned by company insiders.

Schlumberger Stock Performance

NYSE:SLB opened at $48.70 on Thursday. The stock’s 50-day moving average is $52.75 and its 200-day moving average is $50.08. Schlumberger Limited has a 1-year low of $30.65 and a 1-year high of $62.78. The company has a current ratio of 1.25, a quick ratio of 0.92 and a debt-to-equity ratio of 0.59. The stock has a market cap of $69.55 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 0.41 and a beta of 1.77.

Schlumberger (NYSE:SLB – Get Rating) last announced its quarterly earnings results on Friday, January 20th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $7.88 billion during the quarter, compared to analysts’ expectations of $7.80 billion. Schlumberger had a net margin of 12.25% and a return on equity of 18.51%. The company’s revenue was up 26.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 EPS. Equities research analysts anticipate that Schlumberger Limited will post 3.02 earnings per share for the current year.

Schlumberger Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 6th. Shareholders of record on Wednesday, February 8th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, February 7th. This is an increase from Schlumberger’s previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a yield of 2.05%. Schlumberger’s payout ratio is presently 41.67%.

Analysts Set New Price Targets

A number of brokerages have issued reports on SLB. HSBC increased their target price on shares of Schlumberger from $56.80 to $75.00 and gave the stock a “buy” rating in a research report on Monday, January 30th. Benchmark began coverage on Schlumberger in a research note on Thursday, January 19th. They set a “buy” rating and a $65.00 price objective on the stock. Barclays upped their target price on Schlumberger from $62.00 to $74.00 and gave the company an “overweight” rating in a research report on Wednesday, January 25th. Susquehanna restated a “positive” rating and issued a $68.00 price target on shares of Schlumberger in a research report on Tuesday, March 14th. Finally, Griffin Securities reaffirmed a “buy” rating on shares of Schlumberger in a research note on Monday, January 16th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.38.

Schlumberger Profile

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Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production, and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s digital solutions and data products with its Asset Performance Solutions (APS).