Jennison Associates LLC Sells 2,185,065 Shares of Schlumberger Limited (NYSE:SLB)

Jennison Associates LLC decreased its holdings in Schlumberger Limited (NYSE:SLB) by 59.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,517,243 shares of the oil and gas company’s stock after selling 2,185,065 shares during the period. Jennison Associates LLC owned approximately 0.11% of Schlumberger worth $78,957,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Highland Capital Management LLC increased its stake in shares of Schlumberger by 2,494.0% in the 4th quarter. Highland Capital Management LLC now owns 101,426 shares of the oil and gas company’s stock valued at $5,278,000 after purchasing an additional 97,516 shares during the last quarter. Guinness Asset Management LTD boosted its holdings in shares of Schlumberger by 0.3% during the 3rd quarter. Guinness Asset Management LTD now owns 331,309 shares of the oil and gas company’s stock valued at $19,468,000 after acquiring an additional 965 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Schlumberger by 36.4% during the 4th quarter. Nordea Investment Management AB now owns 1,424,625 shares of the oil and gas company’s stock valued at $74,080,000 after acquiring an additional 380,185 shares in the last quarter. Allworth Financial LP boosted its holdings in shares of Schlumberger by 3.8% during the 3rd quarter. Allworth Financial LP now owns 5,557 shares of the oil and gas company’s stock valued at $324,000 after acquiring an additional 206 shares in the last quarter. Finally, Asset Management One Co. Ltd. boosted its holdings in shares of Schlumberger by 6.3% during the 4th quarter. Asset Management One Co. Ltd. now owns 607,312 shares of the oil and gas company’s stock valued at $31,726,000 after acquiring an additional 35,763 shares in the last quarter. Institutional investors own 81.99% of the company’s stock.

Insider Activity

In related news, CAO Howard Guild sold 22,853 shares of the business’s stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $51.66, for a total value of $1,180,585.98. Following the completion of the sale, the chief accounting officer now directly owns 22,181 shares of the company’s stock, valued at approximately $1,145,870.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Stephane Biguet sold 6,250 shares of the business’s stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $52.78, for a total value of $329,875.00. Following the completion of the sale, the chief financial officer now directly owns 249,182 shares of the company’s stock, valued at approximately $13,151,825.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Howard Guild sold 22,853 shares of the business’s stock in a transaction dated Wednesday, January 24th. The shares were sold at an average price of $51.66, for a total value of $1,180,585.98. Following the completion of the sale, the chief accounting officer now directly owns 22,181 shares of the company’s stock, valued at $1,145,870.46. The disclosure for this sale can be found here. Insiders have sold 133,621 shares of company stock valued at $6,691,623 in the last ninety days. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Benchmark reissued a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a report on Monday. Bank of America cut their price objective on Schlumberger from $63.00 to $62.00 and set a “buy” rating on the stock in a report on Monday. HSBC reissued a “buy” rating and set a $71.00 price objective on shares of Schlumberger in a report on Thursday, April 4th. Wells Fargo & Company raised their price objective on Schlumberger from $69.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, January 22nd. Finally, TD Cowen cut their price objective on Schlumberger from $64.00 to $63.00 and set a “buy” rating on the stock in a report on Monday. One equities research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.67.

Schlumberger Stock Down 0.7 %

Shares of NYSE:SLB opened at $49.52 on Tuesday. The company has a market capitalization of $70.68 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 0.95 and a beta of 1.60. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.37 and a quick ratio of 1.02. The business’s 50-day moving average is $51.64 and its 200-day moving average is $52.32. Schlumberger Limited has a 1 year low of $42.73 and a 1 year high of $62.12.

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

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Stockholders of record on Wednesday, June 5th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.22%. This is an increase from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date is Wednesday, June 5th. Schlumberger’s payout ratio is currently 36.54%.

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.