Hotchkis & Wiley Capital Management LLC Trims Position in Schlumberger Limited (NYSE:SLB)

Hotchkis & Wiley Capital Management LLC trimmed its stake in shares of Schlumberger Limited (NYSE:SLB) by 0.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,881,097 shares of the oil and gas company’s stock after selling 12,500 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Schlumberger were worth $78,912,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SLB. Cetera Investment Advisers lifted its holdings in Schlumberger by 233.0% during the first quarter. Cetera Investment Advisers now owns 216,385 shares of the oil and gas company’s stock worth $11,860,000 after buying an additional 151,412 shares during the period. Cetera Advisors LLC grew its stake in shares of Schlumberger by 88.8% in the first quarter. Cetera Advisors LLC now owns 57,764 shares of the oil and gas company’s stock valued at $3,166,000 after buying an additional 27,171 shares in the last quarter. Transcend Capital Advisors LLC acquired a new stake in shares of Schlumberger in the 2nd quarter valued at $259,000. Mather Group LLC. boosted its holdings in shares of Schlumberger by 38.5% in the second quarter. Mather Group LLC. now owns 7,889 shares of the oil and gas company’s stock valued at $372,000 after acquiring an additional 2,191 shares during the period. Finally, Fulton Bank N.A. boosted its holdings in Schlumberger by 1.8% in the 2nd quarter. Fulton Bank N.A. now owns 14,380 shares of the oil and gas company’s stock valued at $678,000 after purchasing an additional 253 shares in the last quarter. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Stock Down 0.7 %

Shares of SLB opened at $43.63 on Tuesday. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. The firm has a fifty day moving average price of $42.98 and a 200-day moving average price of $44.36. The firm has a market capitalization of $61.61 billion, a P/E ratio of 14.03, a P/E/G ratio of 1.55 and a beta of 1.51. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last released its quarterly earnings results 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 firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.78 EPS. Equities research analysts expect that Schlumberger Limited will post 3.39 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.52%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred 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 owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on SLB shares. Morgan Stanley lowered their price target on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Susquehanna dropped their target price on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a report on Monday, October 21st. JPMorgan Chase & Co. cut their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Royal Bank of Canada restated an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a report on Thursday, October 3rd. Finally, TD Cowen decreased their target price on Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $60.97.

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.