Atria Investments LLC reduced its stake in shares of Schlumberger Limited (NYSE:SLB – Get Rating) by 55.0% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 51,872 shares of the oil and gas company’s stock after selling 63,300 shares during the period. Atria Investments LLC’s holdings in Schlumberger were worth $2,143,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SLB. National Bank of Canada FI bought a new stake in Schlumberger during the 4th quarter worth approximately $316,000. J.W. Cole Advisors Inc. increased its holdings in Schlumberger by 2.5% during the 4th quarter. J.W. Cole Advisors Inc. now owns 11,673 shares of the oil and gas company’s stock worth $350,000 after purchasing an additional 280 shares in the last quarter. Signaturefd LLC increased its holdings in Schlumberger by 3.8% during the 4th quarter. Signaturefd LLC now owns 15,601 shares of the oil and gas company’s stock worth $467,000 after purchasing an additional 568 shares in the last quarter. NN Investment Partners Holdings N.V. boosted its stake in shares of Schlumberger by 50.0% in the 4th quarter. NN Investment Partners Holdings N.V. now owns 1,258,800 shares of the oil and gas company’s stock worth $37,702,000 after buying an additional 419,391 shares during the last quarter. Finally, Brown Advisory Inc. boosted its stake in shares of Schlumberger by 3.2% in the 4th quarter. Brown Advisory Inc. now owns 307,464 shares of the oil and gas company’s stock worth $9,209,000 after buying an additional 9,394 shares during the last quarter. 76.34% of the stock is owned by institutional investors.
Analysts Set New Price Targets
SLB has been the topic of a number of research analyst reports. Wells Fargo & Company cut their target price on Schlumberger from $56.00 to $55.00 and set an “overweight” rating on the stock in a research note on Monday, April 25th. StockNews.com downgraded Schlumberger from a “buy” rating to a “hold” rating in a research note on Monday, April 25th. Stifel Nicolaus boosted their target price on Schlumberger from $44.00 to $50.00 in a research note on Friday, April 8th. Morgan Stanley cut their target price on Schlumberger from $50.00 to $45.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 13th. Finally, HSBC upgraded Schlumberger from a “hold” rating to a “buy” rating and boosted their target price for the stock from $4.60 to $44.20 in a research note on Wednesday, April 27th. Two research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $46.51.
Schlumberger Trading Up 4.3 %
Schlumberger (NYSE:SLB – Get Rating) last posted its earnings results on Friday, July 22nd. The oil and gas company reported $0.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.10. The firm had revenue of $6.77 billion for the quarter, compared to the consensus estimate of $6.28 billion. Schlumberger had a return on equity of 14.02% and a net margin of 8.84%. The business’s quarterly revenue was up 20.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 earnings per share. As a group, analysts expect that Schlumberger Limited will post 1.86 EPS for the current year.
Schlumberger Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Stockholders of record on Wednesday, September 7th will be issued a $0.175 dividend. The ex-dividend date of this dividend is Tuesday, September 6th. This represents a $0.70 annualized dividend and a dividend yield of 2.00%. Schlumberger’s payout ratio is currently 38.04%.
Insider Transactions at Schlumberger
In other news, major shareholder Limited/Nv Schlumberger sold 12,032,500 shares of the company’s stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $17.00, for a total value of $204,552,500.00. Following the transaction, the insider now owns 23,069,461 shares of the company’s stock, valued at $392,180,837. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Katharina Beumelburg sold 4,200 shares of the stock in a transaction on Thursday, May 19th. The stock was sold at an average price of $40.28, for a total value of $169,176.00. Following the transaction, the insider now owns 519 shares of the company’s stock, valued at $20,905.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Limited/Nv Schlumberger sold 12,032,500 shares of the stock in a transaction on Wednesday, June 8th. The shares were sold at an average price of $17.00, for a total value of $204,552,500.00. Following the completion of the transaction, the insider now directly owns 23,069,461 shares in the company, valued at approximately $392,180,837. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,567,459 shares of company stock valued at $430,840,521. 0.28% of the stock is currently owned by company insiders.
Schlumberger Company Profile
Schlumberger Limited provides technology for the energy industry worldwide. The company operates through four divisions: Digital & Integration, Reservoir Performance, Well Construction, and Production Systems. It offers software, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; petro technical data services and training solutions; reservoir interpretation and data processing services; asset performance solutions; open and cased-hole services; exploration and production pressure and flow-rate measurement services; pressure pumping, well stimulation, and coiled tubing equipment for downhole mechanical well intervention, reservoir monitoring, and downhole data acquisition; and integrated production systems.
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