Meyer Handelman Co. Decreases Stake in Schlumberger Limited (NYSE:SLB)

Meyer Handelman Co. cut its holdings in shares of Schlumberger Limited (NYSE:SLB) by 21.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 46,256 shares of the oil and gas company’s stock after selling 12,801 shares during the period. Meyer Handelman Co.’s holdings in Schlumberger were worth $1,773,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SLB. Grove Bank & Trust boosted its holdings in shares of Schlumberger by 17.4% during the 3rd quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock valued at $64,000 after acquiring an additional 224 shares during the last quarter. Clearstead Trust LLC grew its holdings in shares of Schlumberger by 0.8% in the second quarter. Clearstead Trust LLC now owns 31,529 shares of the oil and gas company’s stock worth $1,488,000 after acquiring an additional 237 shares during the period. M&R Capital Management Inc. increased its position in Schlumberger by 1.7% during the third quarter. M&R Capital Management Inc. now owns 14,817 shares of the oil and gas company’s stock valued at $622,000 after acquiring an additional 241 shares during the last quarter. GM Advisory Group LLC lifted its holdings in Schlumberger by 3.8% in the third quarter. GM Advisory Group LLC now owns 6,701 shares of the oil and gas company’s stock valued at $281,000 after acquiring an additional 247 shares during the period. Finally, Cordatus Wealth Management LLC boosted its position in Schlumberger by 2.1% in the third quarter. Cordatus Wealth Management LLC now owns 13,383 shares of the oil and gas company’s stock worth $561,000 after purchasing an additional 281 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $39.95 on Wednesday. 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 $56.42 billion, a price-to-earnings ratio of 12.85, a P/E/G ratio of 1.42 and a beta of 1.52. The firm has a fifty day moving average price of $40.95 and a 200 day moving average price of $42.95. Schlumberger Limited has a fifty-two week low of $36.52 and a fifty-two week high of $55.69.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating the consensus estimate of $0.88 by $0.01. The business had revenue of $9.16 billion during 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 business’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.78 EPS. As a group, sell-side analysts expect that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date was Wednesday, December 4th. Schlumberger’s payout ratio is 35.37%.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the company’s 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 sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research report on Thursday, October 3rd. Jefferies Financial Group cut their price objective on shares of Schlumberger from $64.00 to $61.00 and set a “buy” rating for the company in a research report on Friday, January 3rd. Citigroup decreased their target price on Schlumberger from $53.00 to $50.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Finally, TD Cowen cut their price target on Schlumberger from $65.00 to $53.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $56.58.

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.