Capital International Investors Sells 6,904,269 Shares of Schlumberger Limited (NYSE:SLB)

Capital International Investors lessened its stake in shares of Schlumberger Limited (NYSE:SLB) by 46.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,893,094 shares of the oil and gas company’s stock after selling 6,904,269 shares during the quarter. Capital International Investors’ holdings in Schlumberger were worth $432,620,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SLB. Turtle Creek Wealth Advisors LLC acquired a new stake in Schlumberger during the 4th quarter valued at $26,000. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger in the 1st quarter valued at $27,000. Manchester Capital Management LLC increased its stake in shares of Schlumberger by 297.9% in the 1st quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after buying an additional 426 shares during the period. Transcendent Capital Group LLC acquired a new stake in shares of Schlumberger in the 4th quarter valued at $32,000. Finally, Janiczek Wealth Management LLC increased its stake in shares of Schlumberger by 1,180.4% in the 4th quarter. Janiczek Wealth Management LLC now owns 653 shares of the oil and gas company’s stock valued at $34,000 after buying an additional 602 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Schlumberger Stock Up 1.2 %

Shares of NYSE:SLB traded up $0.60 during midday trading on Friday, reaching $48.83. The company had a trading volume of 8,187,262 shares, compared to its average volume of 11,073,436. The business’s 50 day moving average price is $46.32 and its 200 day moving average price is $48.98. The stock has a market cap of $69.79 billion, a PE ratio of 16.22, a P/E/G ratio of 1.02 and a beta of 1.55. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a 1-year low of $42.61 and a 1-year high of $62.12.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.72 earnings per share. Research analysts forecast that Schlumberger Limited will post 3.5 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a yield of 2.25%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Insiders Place Their Bets

In other news, CTO Demosthenis Pafitis sold 63,095 shares of the company’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the transaction, the chief technology officer now owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Bejar Carmen Rando sold 4,980 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.43, for a total value of $216,281.40. Following the completion of the sale, the insider now directly owns 22,518 shares in the company, valued at $977,956.74. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $48.26, for a total value of $3,044,964.70. Following the completion of the sale, the chief technology officer now owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The disclosure for this sale can be found here. Insiders have sold a total of 286,874 shares of company stock valued at $14,148,517 over the last 90 days. 0.26% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms have recently commented on SLB. BMO Capital Markets lowered their target price on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a research note on Monday, April 22nd. TD Cowen raised their price target on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday. HSBC restated a “buy” rating and issued a $71.00 price target on shares of Schlumberger in a research report on Thursday, April 4th. Stifel Nicolaus restated a “buy” rating and issued a $64.00 price target on shares of Schlumberger in a research report on Monday, April 22nd. Finally, The Goldman Sachs Group restated a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $67.56.

Schlumberger 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.