Ballentine Partners LLC Sells 1,146 Shares of Schlumberger Limited $SLB

Ballentine Partners LLC decreased its holdings in shares of Schlumberger Limited (NYSE:SLB) by 11.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,022 shares of the oil and gas company’s stock after selling 1,146 shares during the period. Ballentine Partners LLC’s holdings in Schlumberger were worth $305,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its stake in Schlumberger by 478.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 47,719,476 shares of the oil and gas company’s stock worth $1,994,674,000 after acquiring an additional 39,474,501 shares in the last quarter. Boston Partners lifted its holdings in Schlumberger by 27.7% during the 1st quarter. Boston Partners now owns 19,829,381 shares of the oil and gas company’s stock valued at $824,160,000 after purchasing an additional 4,300,222 shares during the last quarter. Northern Trust Corp lifted its holdings in Schlumberger by 4.4% during the 1st quarter. Northern Trust Corp now owns 14,422,499 shares of the oil and gas company’s stock valued at $602,860,000 after purchasing an additional 604,832 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Schlumberger by 22.8% in the first quarter. Dimensional Fund Advisors LP now owns 8,989,115 shares of the oil and gas company’s stock valued at $375,738,000 after buying an additional 1,667,203 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Schlumberger by 3.8% during the first quarter. Invesco Ltd. now owns 7,659,177 shares of the oil and gas company’s stock worth $320,154,000 after buying an additional 281,937 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors.

Schlumberger Stock Performance

Shares of Schlumberger stock opened at $35.51 on Monday. The firm has a fifty day moving average of $34.65 and a two-hundred day moving average of $35.33. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.98 and a current ratio of 1.31. The stock has a market capitalization of $53.04 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 9.86 and a beta of 1.05. Schlumberger Limited has a 52 week low of $31.11 and a 52 week high of $46.15.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Schlumberger had a return on equity of 20.99% and a net margin of 11.53%.The business had revenue of $8.55 billion during the quarter, compared to analysts’ expectations of $8.51 billion. During the same period in the previous year, the firm earned $0.85 earnings per share. The firm’s quarterly revenue was down 6.5% compared to the same quarter last year. As a group, equities research analysts predict that Schlumberger Limited will post 3.38 EPS for the current year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.285 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a $1.14 annualized dividend and a yield of 3.2%. Schlumberger’s dividend payout ratio (DPR) is presently 39.04%.

Insider Transactions at Schlumberger

In other Schlumberger news, insider Dianne B. Ralston sold 39,727 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the completion of the sale, the insider owned 202,201 shares of the company’s stock, valued at approximately $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.22% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. dropped their price target on Schlumberger from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, June 30th. Melius began coverage on Schlumberger in a report on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price on the stock. Susquehanna cut their price target on Schlumberger from $44.00 to $42.00 and set a “positive” rating for the company in a report on Monday, July 21st. Wells Fargo & Company lowered shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Sunday, July 20th. Finally, Zacks Research raised shares of Schlumberger from a “strong sell” rating to a “hold” rating in a research note on Monday, September 15th. Two research analysts have rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $52.18.

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.