Schroder Investment Management Group Lowers Stock Position in Schlumberger Limited (NYSE:SLB)

Schroder Investment Management Group lowered its position in Schlumberger Limited (NYSE:SLBFree Report) by 16.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 834,232 shares of the oil and gas company’s stock after selling 163,864 shares during the period. Schroder Investment Management Group owned about 0.06% of Schlumberger worth $48,636,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SLB. Capital World Investors grew its position in Schlumberger by 85.7% during the second quarter. Capital World Investors now owns 43,080,354 shares of the oil and gas company’s stock valued at $2,116,107,000 after buying an additional 19,885,771 shares during the period. Norges Bank bought a new position in Schlumberger during the fourth quarter worth about $1,008,286,000. Price T Rowe Associates Inc. MD boosted its position in Schlumberger by 200.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 10,736,684 shares of the oil and gas company’s stock worth $527,173,000 after purchasing an additional 7,158,943 shares during the period. Sanders Capital LLC boosted its position in Schlumberger by 34.9% during the third quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock worth $469,693,000 after purchasing an additional 2,085,506 shares during the period. Finally, Invesco Ltd. boosted its position in Schlumberger by 30.5% during the third quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock worth $488,020,000 after purchasing an additional 1,954,620 shares during the period. Hedge funds and other institutional investors own 79.43% of the company’s stock.

Schlumberger Stock Performance

NYSE:SLB opened at $50.78 on Friday. The stock has a market cap of $72.48 billion, a P/E ratio of 17.39, a price-to-earnings-growth ratio of 0.90 and a beta of 1.59. The firm’s fifty day simple moving average is $49.54 and its 200 day simple moving average is $53.75. Schlumberger Limited has a twelve month low of $42.73 and a twelve month high of $62.12. The company has a quick ratio of 1.00, a current ratio of 1.32 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLBGet Free Report) last released its quarterly earnings results on Friday, January 19th. The oil and gas company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.02. The business had revenue of $8.99 billion for the quarter, compared to analysts’ expectations of $8.96 billion. Schlumberger had a net margin of 12.68% and a return on equity of 21.97%. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.71 earnings per share. As a group, research analysts predict that Schlumberger Limited will post 3.54 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 4th. Stockholders of record on Wednesday, February 7th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Tuesday, February 6th. Schlumberger’s dividend payout ratio is presently 34.25%.

Analysts Set New Price Targets

SLB has been the subject of a number of research reports. Benchmark reiterated a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research report on Monday. Stifel Nicolaus increased their target price on shares of Schlumberger from $63.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Susquehanna reiterated a “positive” rating and set a $77.00 target price on shares of Schlumberger in a research report on Tuesday, February 13th. Royal Bank of Canada restated an “outperform” rating and issued a $66.00 price objective on shares of Schlumberger in a research report on Thursday, February 8th. Finally, Barclays cut their price objective on shares of Schlumberger from $77.00 to $74.00 and set an “overweight” rating for the company in a research report on Monday, January 22nd. One research analyst has rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $70.87.

Read Our Latest Analysis on Schlumberger

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 261,507 shares of the company’s stock, valued at approximately $12,688,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mogharbel Khaled Al sold 38,570 shares of the company’s stock in a transaction dated Tuesday, January 23rd. The stock was sold at an average price of $50.42, for a total transaction of $1,944,699.40. Following the completion of the sale, the executive vice president now directly owns 386,841 shares in the company, valued at $19,504,523.22. The disclosure for this sale can be found here. Insiders have sold 178,441 shares of company stock valued at $8,972,947 in the last three months. 0.26% of the stock is currently owned by company insiders.

Schlumberger Profile

(Free Report)

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.

Read More

Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

Receive News & Ratings for Schlumberger Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Schlumberger and related companies with MarketBeat.com's FREE daily email newsletter.