Marco Investment Management LLC Has $541,000 Stock Position in Schlumberger Limited (NYSE:SLB)

Marco Investment Management LLC lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 4.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,907 shares of the oil and gas company’s stock after selling 565 shares during the quarter. Marco Investment Management LLC’s holdings in Schlumberger were worth $541,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Crescent Grove Advisors LLC bought a new position in Schlumberger in the 2nd quarter valued at about $257,000. Victory Capital Management Inc. lifted its holdings in shares of Schlumberger by 8.7% in the third quarter. Victory Capital Management Inc. now owns 817,771 shares of the oil and gas company’s stock valued at $34,305,000 after purchasing an additional 65,318 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in Schlumberger by 269.1% during the third quarter. Concurrent Investment Advisors LLC now owns 19,718 shares of the oil and gas company’s stock worth $827,000 after buying an additional 14,376 shares in the last quarter. Public Sector Pension Investment Board raised its position in Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after buying an additional 11,813 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in Schlumberger by 26.0% during the 3rd quarter. Los Angeles Capital Management LLC now owns 307,040 shares of the oil and gas company’s stock worth $12,880,000 after acquiring an additional 63,413 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction dated Thursday, October 24th. The stock was 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 owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the topic of a number of recent analyst reports. Citigroup dropped their price target on shares of Schlumberger from $60.00 to $54.00 and set a “buy” rating on the stock in a research report on Tuesday, October 22nd. Bank of America cut their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a research note on Monday, October 14th. Stifel Nicolaus reaffirmed a “buy” rating and set a $60.00 price target (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Evercore ISI reduced their price objective on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Finally, JPMorgan Chase & Co. cut their price target on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Stock Performance

NYSE:SLB opened at $44.23 on Friday. Schlumberger Limited has a 52-week low of $38.66 and a 52-week high of $55.69. The business’s fifty day moving average is $42.78 and its 200 day moving average is $44.55. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The firm has a market cap of $62.46 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.56 and a beta of 1.52.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same quarter in the previous year, the firm earned $0.78 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Research analysts predict that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.49%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

Schlumberger Company 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.