Schlumberger Limited. (NYSE:SLB) Stock Position Trimmed by Davidson Investment Advisors

Davidson Investment Advisors cut its position in Schlumberger Limited. (NYSE:SLB) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 233,789 shares of the oil and gas company’s stock after selling 3,190 shares during the quarter. Davidson Investment Advisors’ holdings in Schlumberger were worth $7,989,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Nuveen Asset Management LLC raised its position in shares of Schlumberger by 14,172.7% during the 2nd quarter. Nuveen Asset Management LLC now owns 7,796,324 shares of the oil and gas company’s stock worth $309,825,000 after buying an additional 7,741,700 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Schlumberger by 57.3% in the 2nd quarter. Invesco Ltd. now owns 16,703,642 shares of the oil and gas company’s stock worth $663,804,000 after purchasing an additional 6,087,455 shares in the last quarter. Mackenzie Financial Corp raised its holdings in shares of Schlumberger by 14,241.7% in the 2nd quarter. Mackenzie Financial Corp now owns 2,921,974 shares of the oil and gas company’s stock worth $116,119,000 after purchasing an additional 2,901,600 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Schlumberger by 2.7% in the 2nd quarter. BlackRock Inc. now owns 89,868,836 shares of the oil and gas company’s stock worth $3,571,386,000 after purchasing an additional 2,340,320 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Schlumberger by 1.5% in the 2nd quarter. Vanguard Group Inc. now owns 112,662,996 shares of the oil and gas company’s stock worth $4,477,227,000 after purchasing an additional 1,715,548 shares in the last quarter. Hedge funds and other institutional investors own 76.31% of the company’s stock.

In related news, VP Simon Farrant sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $33.55, for a total transaction of $167,750.00. Following the transaction, the vice president now directly owns 20,316 shares of the company’s stock, valued at $681,601.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.48% of the company’s stock.

SLB has been the topic of a number of research reports. Morgan Stanley set a $50.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a report on Monday, October 21st. Barclays set a $47.00 target price on shares of Schlumberger and gave the stock a “buy” rating in a report on Friday, October 18th. JPMorgan Chase & Co. dropped their target price on shares of Schlumberger from $41.00 to $34.00 and set a “neutral” rating on the stock in a report on Monday, September 9th. TheStreet downgraded shares of Schlumberger from a “c” rating to a “d+” rating in a report on Friday, October 18th. Finally, Cowen dropped their target price on shares of Schlumberger from $47.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $44.82.

Shares of Schlumberger stock traded up $0.26 during trading on Tuesday, hitting $36.67. The stock had a trading volume of 88,581 shares, compared to its average volume of 13,021,252. The stock has a 50 day simple moving average of $33.91 and a 200 day simple moving average of $36.58. The company has a market capitalization of $50.31 billion, a PE ratio of 22.66, a P/E/G ratio of 3.41 and a beta of 1.49. The company has a quick ratio of 0.95, a current ratio of 1.29 and a debt-to-equity ratio of 0.67. Schlumberger Limited. has a 1 year low of $30.65 and a 1 year high of $50.95.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, October 18th. The oil and gas company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. Schlumberger had a negative net margin of 30.22% and a positive return on equity of 6.00%. The business had revenue of $8.54 billion for the quarter, compared to the consensus estimate of $8.50 billion. During the same period last year, the firm posted $0.46 earnings per share. The firm’s quarterly revenue was up .4% compared to the same quarter last year. As a group, equities analysts expect that Schlumberger Limited. will post 1.46 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Wednesday, December 4th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date is Tuesday, December 3rd. Schlumberger’s payout ratio is presently 123.46%.

Schlumberger Company Profile

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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