Cornercap Investment Counsel Inc. Has $858,000 Stock Holdings in Schlumberger Limited (NYSE:SLB)

Cornercap Investment Counsel Inc. trimmed its stake in shares of Schlumberger Limited (NYSE:SLB) by 1.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 16,481 shares of the oil and gas company’s stock after selling 292 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Schlumberger were worth $858,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Landmark Financial Advisors LLC boosted its holdings in Schlumberger by 3.6% during the third quarter. Landmark Financial Advisors LLC now owns 4,838 shares of the oil and gas company’s stock valued at $282,000 after purchasing an additional 170 shares in the last quarter. Investment Advisory Services Inc. TX ADV raised its stake in shares of Schlumberger by 1.4% in the third quarter. Investment Advisory Services Inc. TX ADV now owns 11,968 shares of the oil and gas company’s stock valued at $698,000 after acquiring an additional 171 shares during the last quarter. Miller Howard Investments Inc. NY raised its stake in shares of Schlumberger by 0.5% in the third quarter. Miller Howard Investments Inc. NY now owns 32,845 shares of the oil and gas company’s stock valued at $1,915,000 after acquiring an additional 176 shares during the last quarter. Stonegate Investment Group LLC raised its stake in shares of Schlumberger by 1.7% in the third quarter. Stonegate Investment Group LLC now owns 10,864 shares of the oil and gas company’s stock valued at $633,000 after acquiring an additional 177 shares during the last quarter. Finally, CI Investments Inc. raised its stake in shares of Schlumberger by 4.9% in the third quarter. CI Investments Inc. now owns 4,142 shares of the oil and gas company’s stock valued at $241,000 after acquiring an additional 192 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Kevin Fyfe sold 20,223 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $52.05, for a total value of $1,052,607.15. Following the completion of the transaction, the vice president now directly owns 31,198 shares of the company’s stock, valued at approximately $1,623,855.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the completion of the transaction, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at $12,688,319.64. The disclosure for this sale can be found here. In the last ninety days, insiders sold 172,191 shares of company stock valued at $8,636,322. Company insiders own 0.26% of the company’s stock.

Schlumberger Price Performance

Shares of SLB stock opened at $51.67 on Tuesday. Schlumberger Limited has a 12-month low of $42.73 and a 12-month high of $62.12. The firm has a market capitalization of $73.75 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 0.94 and a beta of 1.60. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. The firm has a fifty day moving average of $51.36 and a 200-day moving average of $52.56.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The company had revenue of $8.99 billion during the quarter, compared to analyst estimates of $8.96 billion. During the same quarter in the previous year, the business earned $0.71 EPS. The firm’s revenue was up 14.1% on a year-over-year basis. On average, equities research analysts forecast that Schlumberger Limited will post 3.52 earnings per share for the current year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 4th. Investors of record on Wednesday, February 7th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend was Tuesday, February 6th. Schlumberger’s payout ratio is presently 34.25%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Barclays cut their target price on shares of Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. Royal Bank of Canada boosted their price objective on shares of Schlumberger from $66.00 to $69.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 3rd. Bank of America boosted their price objective on shares of Schlumberger from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Monday. Wells Fargo & Company boosted their price objective on shares of Schlumberger from $69.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, January 22nd. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. One research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $70.31.

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.