Retirement Systems of Alabama lessened its stake in Schlumberger Limited. (NYSE:SLB) by 42.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 638,298 shares of the oil and gas company’s stock after selling 470,300 shares during the period. Retirement Systems of Alabama’s holdings in Schlumberger were worth $23,030,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in Schlumberger by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 108,726,647 shares of the oil and gas company’s stock worth $6,623,627,000 after purchasing an additional 735,605 shares during the last quarter. Vanguard Group Inc raised its position in Schlumberger by 0.7% in the 3rd quarter. Vanguard Group Inc now owns 108,726,647 shares of the oil and gas company’s stock worth $6,623,627,000 after purchasing an additional 735,605 shares during the last quarter. Capital International Investors raised its position in Schlumberger by 62.5% in the 3rd quarter. Capital International Investors now owns 33,296,194 shares of the oil and gas company’s stock worth $2,028,404,000 after purchasing an additional 12,810,020 shares during the last quarter. Bank of New York Mellon Corp raised its position in Schlumberger by 5.3% in the 3rd quarter. Bank of New York Mellon Corp now owns 31,019,971 shares of the oil and gas company’s stock worth $1,889,738,000 after purchasing an additional 1,558,478 shares during the last quarter. Finally, First Eagle Investment Management LLC raised its position in Schlumberger by 3.0% in the 3rd quarter. First Eagle Investment Management LLC now owns 19,795,280 shares of the oil and gas company’s stock worth $1,205,928,000 after purchasing an additional 576,149 shares during the last quarter. Hedge funds and other institutional investors own 77.67% of the company’s stock.
Several research firms recently weighed in on SLB. Citigroup dropped their price objective on shares of Schlumberger from $57.00 to $54.00 and set a “buy” rating for the company in a research report on Friday, January 4th. Zacks Investment Research restated a “strong sell” rating on shares of Schlumberger in a research report on Monday, December 31st. Credit Suisse Group cut shares of Schlumberger from an “outperform” rating to a “neutral” rating and dropped their target price for the company from $65.00 to $44.00 in a research report on Wednesday, December 19th. Barclays set a $58.00 target price on shares of Schlumberger and gave the company a “hold” rating in a research report on Monday, December 10th. Finally, JPMorgan Chase & Co. cut shares of Schlumberger from an “overweight” rating to a “neutral” rating and dropped their target price for the company from $73.00 to $48.00 in a research report on Tuesday, December 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $70.11.
Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, October 19th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. The company had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.57 billion. During the same quarter in the previous year, the business earned $0.42 EPS. The firm’s revenue was up 7.6% on a year-over-year basis. As a group, sell-side analysts forecast that Schlumberger Limited. will post 1.64 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Wednesday, December 5th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 4.80%. The ex-dividend date of this dividend was Tuesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is 133.33%.
In other news, EVP Patrick Schorn purchased 10,000 shares of the firm’s stock in a transaction dated Thursday, December 20th. The stock was bought at an average price of $37.55 per share, with a total value of $375,500.00. Following the acquisition, the executive vice president now directly owns 35,000 shares of the company’s stock, valued at $1,314,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Simon Ayat sold 60,000 shares of the company’s stock in a transaction on Tuesday, October 30th. The stock was sold at an average price of $56.60, for a total transaction of $3,396,000.00. Following the completion of the transaction, the chief financial officer now directly owns 234,008 shares of the company’s stock, valued at $13,244,852.80. The disclosure for this sale can be found here. 0.48% of the stock is owned by insiders.
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Schlumberger Company Profile
Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.
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