First Mercantile Trust Co. Sells 3,327 Shares of Schlumberger Limited. (NYSE:SLB)

First Mercantile Trust Co. lowered its position in shares of Schlumberger Limited. (NYSE:SLB) by 20.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 12,911 shares of the oil and gas company’s stock after selling 3,327 shares during the period. First Mercantile Trust Co.’s holdings in Schlumberger were worth $441,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SLB. Neville Rodie & Shaw Inc. increased its stake in Schlumberger by 2.5% during the 2nd quarter. Neville Rodie & Shaw Inc. now owns 96,052 shares of the oil and gas company’s stock worth $3,817,000 after acquiring an additional 2,300 shares during the period. Boltwood Capital Management increased its stake in Schlumberger by 15.5% during the 2nd quarter. Boltwood Capital Management now owns 9,304 shares of the oil and gas company’s stock worth $370,000 after acquiring an additional 1,250 shares during the period. Park National Corp OH increased its stake in Schlumberger by 3.8% during the 2nd quarter. Park National Corp OH now owns 171,587 shares of the oil and gas company’s stock worth $6,818,000 after acquiring an additional 6,298 shares during the period. Woodstock Corp increased its stake in Schlumberger by 0.6% during the 2nd quarter. Woodstock Corp now owns 125,840 shares of the oil and gas company’s stock worth $5,001,000 after acquiring an additional 725 shares during the period. Finally, Bright Rock Capital Management LLC increased its stake in Schlumberger by 868.0% during the 2nd quarter. Bright Rock Capital Management LLC now owns 242,000 shares of the oil and gas company’s stock worth $9,617,000 after acquiring an additional 217,000 shares during the period. Institutional investors own 76.52% of the company’s stock.

Shares of SLB stock opened at $36.34 on Friday. The stock’s fifty day moving average price is $33.95 and its two-hundred day moving average price is $36.68. The company has a market cap of $50.83 billion, a PE ratio of 22.43, a P/E/G ratio of 3.45 and a beta of 1.49. Schlumberger Limited. has a fifty-two week low of $30.65 and a fifty-two week high of $51.29. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.95 and a current ratio of 1.29.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.43 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.03. The firm had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.50 billion. Schlumberger had a positive return on equity of 6.00% and a negative net margin of 30.22%. The company’s revenue was up .4% compared to the same quarter last year. During the same quarter last year, the business posted $0.46 EPS. On average, equities analysts predict that Schlumberger Limited. will post 1.47 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Wednesday, December 4th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.50%. The ex-dividend date is Tuesday, December 3rd. Schlumberger’s dividend payout ratio is presently 123.46%.

In other Schlumberger news, VP Simon Farrant sold 5,000 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $33.55, for a total value of $167,750.00. Following the sale, the vice president now owns 20,316 shares of the company’s stock, valued at approximately $681,601.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.48% of the company’s stock.

A number of equities analysts have commented on SLB shares. Morgan Stanley set a $50.00 price objective on Schlumberger and gave the stock a “buy” rating in a research note on Monday, October 21st. Royal Bank of Canada set a $40.00 price objective on Schlumberger and gave the stock a “buy” rating in a research note on Monday, October 21st. Bank of America set a $43.00 price objective on Schlumberger and gave the stock a “buy” rating in a research note on Monday, October 21st. ValuEngine upgraded Schlumberger from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Citigroup lowered their price objective on Schlumberger from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Friday, October 18th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. Schlumberger has an average rating of “Buy” and a consensus price target of $44.82.

About Schlumberger

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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