Tredje AP fonden Reduces Stock Position in Schlumberger Limited (NYSE:SLB)

Tredje AP fonden trimmed its position in shares of Schlumberger Limited (NYSE:SLB) by 10.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 393,451 shares of the oil and gas company’s stock after selling 47,400 shares during the period. Tredje AP fonden’s holdings in Schlumberger were worth $18,563,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Argent Trust Co lifted its holdings in Schlumberger by 9.8% in the 2nd quarter. Argent Trust Co now owns 82,079 shares of the oil and gas company’s stock worth $3,872,000 after buying an additional 7,297 shares during the period. Lingotto Investment Management LLP lifted its stake in Schlumberger by 1.6% in the second quarter. Lingotto Investment Management LLP now owns 2,866,040 shares of the oil and gas company’s stock worth $135,220,000 after acquiring an additional 46,202 shares during the period. Wealth Alliance purchased a new stake in Schlumberger in the second quarter worth $202,000. Abbot Financial Management Inc. boosted its holdings in Schlumberger by 6.2% in the second quarter. Abbot Financial Management Inc. now owns 15,509 shares of the oil and gas company’s stock valued at $732,000 after acquiring an additional 902 shares in the last quarter. Finally, Clearstead Trust LLC increased its position in Schlumberger by 0.8% during the 2nd quarter. Clearstead Trust LLC now owns 31,529 shares of the oil and gas company’s stock valued at $1,488,000 after purchasing an additional 237 shares during the period. 81.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SLB. Benchmark reaffirmed a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Morgan Stanley reduced their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday. Evercore ISI raised their target price on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. UBS Group dropped their price target on Schlumberger from $67.00 to $63.00 and set a “buy” rating on the stock in a research report on Tuesday, August 20th. Finally, Citigroup decreased their price objective on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a report on Friday, June 28th. Two investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $66.72.

Schlumberger Trading Up 2.7 %

NYSE:SLB opened at $41.50 on Wednesday. The stock has a market cap of $59.32 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.85 and a beta of 1.52. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average price is $44.71 and its 200-day moving average price is $47.52. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $61.78.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.83 by $0.02. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same period last year, the business posted $0.72 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. On average, equities research analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be issued a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a yield of 2.65%. Schlumberger’s payout ratio is 36.54%.

Insiders Place Their Bets

In other news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the sale, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. In the last 90 days, insiders sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is owned by insiders.

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.