Chevy Chase Trust Holdings LLC Cuts Stock Holdings in Schlumberger Limited (NYSE:SLB)

Chevy Chase Trust Holdings LLC cut its position in shares of Schlumberger Limited (NYSE:SLB) by 1.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,449,446 shares of the oil and gas company’s stock after selling 38,708 shares during the period. Chevy Chase Trust Holdings LLC owned 0.17% of Schlumberger worth $102,754,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SLB. Cetera Investment Advisers boosted its stake in shares of Schlumberger by 233.0% during the 1st quarter. Cetera Investment Advisers now owns 216,385 shares of the oil and gas company’s stock worth $11,860,000 after acquiring an additional 151,412 shares in the last quarter. Cetera Advisors LLC boosted its position in Schlumberger by 88.8% during the first quarter. Cetera Advisors LLC now owns 57,764 shares of the oil and gas company’s stock worth $3,166,000 after purchasing an additional 27,171 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in Schlumberger by 38.7% in the first quarter. EverSource Wealth Advisors LLC now owns 4,080 shares of the oil and gas company’s stock valued at $224,000 after purchasing an additional 1,138 shares during the period. Transcend Capital Advisors LLC purchased a new stake in shares of Schlumberger in the second quarter valued at approximately $259,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Schlumberger during the 2nd quarter worth approximately $154,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total value of $2,514,000.00. Following the sale, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This trade represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by company insiders.

Schlumberger Trading Up 0.2 %

SLB opened at $44.03 on Monday. The stock has a market capitalization of $62.18 billion, a PE ratio of 14.13, a P/E/G ratio of 1.55 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger Limited has a one year low of $38.66 and a one year high of $55.69. The business’s 50 day moving average price is $42.98 and its 200 day moving average price is $44.36.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data 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 firm had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the business posted $0.78 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities research analysts expect that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.50%. Schlumberger’s dividend payout ratio (DPR) is 35.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on SLB shares. TD Cowen dropped their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, October 21st. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a research note on Tuesday, November 12th. Susquehanna decreased their price target 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. 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 note on Tuesday, October 1st. Finally, Barclays decreased their target price on Schlumberger from $67.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 16th. Two equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Schlumberger presently has an average rating of “Moderate Buy” and a consensus target price 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.