Tokio Marine Asset Management Co. Ltd. Cuts Stake in Schlumberger Limited (NYSE:SLB)

Tokio Marine Asset Management Co. Ltd. lessened its holdings in Schlumberger Limited (NYSE:SLB) by 2.8% during the third quarter, Holdings Channel.com reports. The firm owned 56,452 shares of the oil and gas company’s stock after selling 1,649 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Schlumberger were worth $2,368,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Bruce G. Allen Investments LLC grew its stake in shares of Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 392 shares during the last quarter. ORG Partners LLC grew its position in Schlumberger by 393.5% during the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock worth $25,000 after acquiring an additional 484 shares during the last quarter. Unique Wealth Strategies LLC purchased a new position in Schlumberger in the 2nd quarter worth approximately $30,000. Riverview Trust Co lifted its position in Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 308 shares during the last quarter. Finally, First Community Trust NA boosted its stake in shares of Schlumberger by 264.0% during the second quarter. First Community Trust NA now owns 728 shares of the oil and gas company’s stock valued at $34,000 after purchasing an additional 528 shares during the period. 81.99% of the stock is owned by institutional investors.

Insider Activity

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Stifel Nicolaus reissued a “buy” rating and set a $60.00 price target (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Wells Fargo & Company dropped their target price on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Susquehanna decreased their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company in a report on Monday, October 21st. BMO Capital Markets cut their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Finally, Barclays dropped their target price on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday, October 16th. Two research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $60.97.

Schlumberger Trading Down 0.3 %

NYSE:SLB opened at $43.45 on Friday. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $55.69. The stock has a market cap of $61.36 billion, a price-to-earnings ratio of 13.97, a PEG ratio of 1.54 and a beta of 1.52. The company’s 50 day moving average price is $42.31 and its 200-day moving average price is $44.76. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.01. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.78 EPS. On average, equities research analysts forecast that Schlumberger Limited will post 3.4 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.53%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.

About Schlumberger

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.