Schlumberger Limited (NYSE:SLB) Shares Sold by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 4.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 112,729 shares of the oil and gas company’s stock after selling 4,660 shares during the period. Gulf International Bank UK Ltd’s holdings in Schlumberger were worth $4,728,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Capital World Investors boosted its holdings in Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after acquiring an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Schlumberger by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after purchasing an additional 10,606,191 shares during the last quarter. Boston Partners increased its stake in Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after purchasing an additional 3,069,395 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of Schlumberger in the second quarter worth $92,944,000. Finally, 1832 Asset Management L.P. purchased a new position in shares of Schlumberger in the second quarter worth $91,364,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on SLB. Susquehanna cut their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research report on Monday, October 21st. UBS Group cut their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Morgan Stanley decreased their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. 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. Finally, Benchmark restated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Stock Up 0.6 %

Schlumberger stock opened at $40.55 on Wednesday. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $57.47. The stock has a market capitalization of $57.26 billion, a PE ratio of 13.04, a price-to-earnings-growth ratio of 1.40 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The business has a 50 day simple moving average of $42.25 and a 200-day simple moving average of $44.97.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. During the same period in the prior year, the business posted $0.78 earnings per share. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. On average, analysts anticipate that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

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 issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.71%. Schlumberger’s payout ratio is currently 35.37%.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

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.