Heartland Bank & Trust Co Trims Stock Holdings in Schlumberger Limited (NYSE:SLB)

Heartland Bank & Trust Co trimmed its holdings in Schlumberger Limited (NYSE:SLB) by 3.7% in the third quarter, Holdings Channel reports. The institutional investor owned 16,035 shares of the oil and gas company’s stock after selling 616 shares during the quarter. Heartland Bank & Trust Co’s holdings in Schlumberger were worth $673,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Capital World Investors grew its position in shares of Schlumberger by 72.3% during the 1st quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after purchasing an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Schlumberger by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after purchasing an additional 10,606,191 shares in the last quarter. Boston Partners grew its position in shares of Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after purchasing an additional 3,069,395 shares in the last quarter. Ceredex Value Advisors LLC purchased a new position in shares of Schlumberger during the 2nd quarter valued at $92,944,000. Finally, 1832 Asset Management L.P. purchased a new position in shares of Schlumberger during the 2nd quarter valued at $91,364,000. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SLB shares. UBS Group reduced their price target on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. cut their target price on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, October 1st. Evercore ISI cut their target price on shares of Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday. Stifel Nicolaus reiterated a “buy” rating and issued a $60.00 target price (down from $62.00) on shares of Schlumberger in a research report on Monday. Finally, Morgan Stanley cut their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Price Performance

Shares of NYSE SLB opened at $42.13 on Thursday. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $59.05. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. The company’s 50-day moving average is $43.00 and its 200 day moving average is $45.75. The stock has a market capitalization of $59.82 billion, a P/E ratio of 13.55, a P/E/G ratio of 1.27 and a beta of 1.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same quarter in the previous year, the company earned $0.78 earnings per share. Schlumberger’s quarterly revenue was up 10.2% on a year-over-year basis. On average, sell-side analysts expect that Schlumberger Limited will post 3.44 earnings per share for the current year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.61%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

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.