Schlumberger Limited (NYSE:SLB) Stock Holdings Lessened by Royal Harbor Partners LLC

Royal Harbor Partners LLC lessened its holdings in shares of Schlumberger Limited (NYSE:SLB) by 82.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 6,212 shares of the oil and gas company’s stock after selling 28,590 shares during the period. Royal Harbor Partners LLC’s holdings in Schlumberger were worth $261,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. dropped their price target on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 1st. Dbs Bank assumed coverage on Schlumberger in a research report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price on the stock. Citigroup reduced their price target on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Evercore ISI lowered their price target on Schlumberger from $74.00 to $62.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Finally, Susquehanna cut their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Stock Down 0.8 %

Shares of Schlumberger stock opened at $39.76 on Friday. The stock’s fifty day moving average is $42.44 and its 200-day moving average is $45.15. The firm has a market capitalization of $56.15 billion, a PE ratio of 12.78, a price-to-earnings-growth ratio of 1.41 and a beta of 1.52. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $57.75. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The company had revenue of $9.16 billion during the quarter, compared to analysts’ expectations of $9.27 billion. During the same period last year, the company posted $0.78 earnings per share. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. Equities analysts anticipate that Schlumberger Limited will post 3.4 earnings per share for the current year.

Schlumberger Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders 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 2.77%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

Insider Activity

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Schlumberger Company 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.