Schlumberger Limited (NYSE:SLB) Shares Sold by Sawgrass Asset Management LLC

Sawgrass Asset Management LLC reduced its position in Schlumberger Limited (NYSE:SLB) by 41.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,455 shares of the oil and gas company’s stock after selling 3,127 shares during the quarter. Sawgrass Asset Management LLC’s holdings in Schlumberger were worth $210,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SLB. International Assets Investment Management LLC acquired a new position in Schlumberger in the 4th quarter valued at about $7,754,000. Cerity Partners LLC boosted its stake in shares of Schlumberger by 102.1% in the 4th quarter. Cerity Partners LLC now owns 107,858 shares of the oil and gas company’s stock valued at $5,618,000 after buying an additional 54,499 shares during the period. Tennessee Valley Asset Management Partners purchased a new position in shares of Schlumberger in the 4th quarter valued at about $83,000. Bison Wealth LLC boosted its stake in shares of Schlumberger by 26.1% in the 4th quarter. Bison Wealth LLC now owns 4,336 shares of the oil and gas company’s stock valued at $226,000 after buying an additional 897 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Schlumberger by 50.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 785,064 shares of the oil and gas company’s stock valued at $40,855,000 after buying an additional 262,116 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the transaction, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 223,779 shares of company stock valued at $11,103,553. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on SLB. Bank of America decreased their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research note on Monday, July 15th. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price objective on shares of Schlumberger in a research note on Monday, April 22nd. Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Stifel Nicolaus restated a “buy” rating and set a $64.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus target price of $67.56.

Schlumberger Stock Performance

NYSE SLB traded down $0.26 on Friday, reaching $44.78. The stock had a trading volume of 6,013,015 shares, compared to its average volume of 9,171,766. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. Schlumberger Limited has a 12-month low of $42.61 and a 12-month high of $62.12. The business’s 50-day moving average price is $46.11 and its 200 day moving average price is $48.44. The stock has a market cap of $63.58 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The company had revenue of $9.14 billion during the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.72 earnings per share. As a group, equities analysts expect that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s payout ratio is currently 36.54%.

Schlumberger 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.