Sanders Capital LLC Lowers Stake in Schlumberger Limited (NYSE:SLB)

Sanders Capital LLC decreased its holdings in Schlumberger Limited (NYSE:SLB) by 1.2% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 10,494,219 shares of the oil and gas company’s stock after selling 130,375 shares during the quarter. Sanders Capital LLC owned 0.74% of Schlumberger worth $440,232,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. Financial Advocates Investment Management increased its stake in Schlumberger by 3.4% during the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after buying an additional 218 shares in the last quarter. Chilton Capital Management LLC raised its stake in Schlumberger by 0.8% in the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after purchasing an additional 219 shares during the last quarter. Grove Bank & Trust grew its holdings in shares of Schlumberger by 17.4% during the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after buying an additional 224 shares in the last quarter. First PREMIER Bank raised its position in shares of Schlumberger by 8.7% in the second quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock valued at $134,000 after buying an additional 227 shares during the last quarter. Finally, Addison Advisors LLC lifted its stake in shares of Schlumberger by 6.5% in the second quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock worth $179,000 after buying an additional 233 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

SLB has been the subject of several research reports. Morgan Stanley dropped their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. Susquehanna cut their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a research note on Monday, October 21st. Sanford C. Bernstein raised shares of Schlumberger to a “strong-buy” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. reduced their target price 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. Finally, BMO Capital Markets dropped their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $60.97.

Schlumberger Trading Down 0.8 %

NYSE SLB opened at $43.39 on Tuesday. The firm’s fifty day moving average price is $42.85 and its 200 day moving average price is $44.49. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $55.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12. The company has a market capitalization of $61.27 billion, a price-to-earnings ratio of 14.07, a price-to-earnings-growth ratio of 1.56 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. The company had revenue of $9.16 billion for the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company posted $0.78 earnings per share. On average, sell-side analysts expect that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a yield of 2.54%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Insider Buying and Selling at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of Schlumberger 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 transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by company insiders.

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.