Kentucky Retirement Systems Sells 8,785 Shares of Schlumberger Limited (NYSE:SLB)

Kentucky Retirement Systems cut its holdings in shares of Schlumberger Limited (NYSE:SLB) by 8.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 98,925 shares of the oil and gas company’s stock after selling 8,785 shares during the quarter. Kentucky Retirement Systems’ holdings in Schlumberger were worth $4,150,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in SLB. Bruce G. Allen Investments LLC lifted its holdings in Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock worth $28,000 after purchasing an additional 392 shares in the last quarter. ORG Partners LLC raised its position in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares during the last quarter. Unique Wealth Strategies LLC purchased a new position in shares of Schlumberger in the second quarter worth $30,000. Riverview Trust Co boosted its position in shares of Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 308 shares during the last quarter. Finally, First Community Trust NA grew its stake in Schlumberger by 264.0% during the second quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 528 shares in the last quarter. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have commented on SLB shares. TD Cowen dropped their price objective on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. Benchmark restated a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Bank of America decreased their price objective on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Dbs Bank initiated coverage on shares of Schlumberger in a report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price for the company. Finally, Susquehanna lowered their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $60.97.

Insider Activity

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the completion of the sale, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $43.18 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The stock’s fifty day moving average is $42.40 and its two-hundred day moving average is $44.69. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $55.69. The company has a market capitalization of $60.98 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.52 and a beta of 1.52.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.78 EPS. As a group, analysts expect that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

About Schlumberger

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.