Melqart Asset Management UK Ltd Cuts Stake in Schlumberger Limited (NYSE:SLB)

Melqart Asset Management UK Ltd lowered its position in Schlumberger Limited (NYSE:SLB) by 57.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,338 shares of the oil and gas company’s stock after selling 90,662 shares during the quarter. Melqart Asset Management UK Ltd’s holdings in Schlumberger were worth $1,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sierra Capital LLC purchased a new stake in Schlumberger in the first quarter worth approximately $26,000. Spirit of America Management Corp NY bought a new position in shares of Schlumberger during the first quarter valued at approximately $27,000. Hoertkorn Richard Charles raised its holdings in shares of Schlumberger by 90.9% during the first quarter. Hoertkorn Richard Charles now owns 1,050 shares of the oil and gas company’s stock valued at $29,000 after acquiring an additional 500 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in shares of Schlumberger during the first quarter valued at approximately $28,000. Finally, Concord Wealth Partners bought a new position in shares of Schlumberger during the fourth quarter valued at approximately $26,000. 75.01% of the stock is owned by institutional investors and hedge funds.

Shares of Schlumberger stock traded down $0.37 during trading on Thursday, hitting $28.06. 555,541 shares of the company’s stock traded hands, compared to its average volume of 9,598,823. The company has a quick ratio of 0.96, a current ratio of 1.30 and a debt-to-equity ratio of 1.22. Schlumberger Limited has a 1 year low of $13.70 and a 1 year high of $36.87. The stock has a market cap of $39.24 billion, a PE ratio of -13.88 and a beta of 2.40. The stock has a 50-day simple moving average of $32.29.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Thursday, April 22nd. The oil and gas company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.19 by $0.02. Schlumberger had a positive return on equity of 7.20% and a negative net margin of 13.30%. The company had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $5.09 billion. During the same period last year, the firm posted $0.25 earnings per share. Schlumberger’s revenue was down 29.9% compared to the same quarter last year. Research analysts expect that Schlumberger Limited will post 1.12 EPS for the current year.

In other Schlumberger news, EVP Hinda Gharbi sold 30,000 shares of the stock in a transaction dated Thursday, May 6th. The stock was sold at an average price of $30.10, for a total value of $903,000.00. Following the transaction, the executive vice president now owns 129,262 shares of the company’s stock, valued at $3,890,786.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

A number of equities analysts recently commented on SLB shares. Morgan Stanley upped their target price on Schlumberger from $32.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, July 9th. TheStreet upgraded Schlumberger from a “d+” rating to a “c-” rating in a report on Thursday, June 10th. The Goldman Sachs Group started coverage on Schlumberger in a report on Thursday, May 13th. They issued a “buy” rating and a $38.00 price objective for the company. Stephens upgraded Schlumberger from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $27.00 to $35.00 in a report on Monday, April 26th. Finally, Citigroup increased their price objective on Schlumberger from $34.00 to $35.00 in a report on Monday, April 26th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $28.61.

Schlumberger Company Profile

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. It operates in four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. The company offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; and petro technical data services and training solutions.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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