Gamco Investors INC. ET AL Lowers Stock Holdings in Schlumberger Limited (NYSE:SLB)

Gamco Investors INC. ET AL trimmed its holdings in shares of Schlumberger Limited (NYSE:SLB) by 1.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 226,998 shares of the oil and gas company’s stock after selling 4,450 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Schlumberger were worth $12,442,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SLB. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Schlumberger in the fourth quarter valued at about $26,000. Register Financial Advisors LLC acquired a new stake in Schlumberger in the 1st quarter worth about $27,000. Manchester Capital Management LLC increased its stake in Schlumberger by 297.9% during the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after buying an additional 426 shares in the last quarter. Transcendent Capital Group LLC acquired a new position in shares of Schlumberger during the fourth quarter valued at approximately $32,000. Finally, Janiczek Wealth Management LLC lifted its position in shares of Schlumberger by 1,180.4% in the fourth quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after acquiring an additional 602 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Trading Up 1.2 %

Shares of NYSE SLB traded up $0.60 during mid-day trading on Friday, reaching $48.83. 8,231,538 shares of the company’s stock were exchanged, compared to its average volume of 8,735,330. The company’s 50-day moving average is $46.32 and its 200-day moving average is $48.98. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The firm has a market capitalization of $69.33 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 1.03 and a beta of 1.55. Schlumberger Limited has a 52-week low of $42.61 and a 52-week high of $62.12.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. Schlumberger’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.72 earnings per share. Analysts expect that Schlumberger Limited will post 3.5 EPS for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced 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 2.25%. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insider Buying and Selling at Schlumberger

In other news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the completion of the sale, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Schlumberger news, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the sale, the chief technology officer now directly owns 33,421 shares in the company, valued at approximately $1,612,897.46. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the transaction, the chief financial officer now owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The disclosure for this sale can be found here. Insiders have sold a total of 286,874 shares of company stock valued at $14,148,517 over the last quarter. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on SLB shares. Susquehanna dropped their price target on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, July 11th. BMO Capital Markets reduced their target price on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Monday, April 22nd. Bank of America decreased their price target on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Finally, HSBC reissued a “buy” rating and issued a $71.00 target price on shares of Schlumberger in a research note on Thursday, April 4th. Two equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average price target of $67.56.

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.