Schlumberger Limited (NYSE:SLB) Holdings Decreased by Eagle Bay Advisors LLC

Eagle Bay Advisors LLC cut its position in shares of Schlumberger Limited (NYSE:SLB) by 36.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,169 shares of the oil and gas company’s stock after selling 683 shares during the quarter. Eagle Bay Advisors LLC’s holdings in Schlumberger were worth $45,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in SLB. 1832 Asset Management L.P. acquired a new position in shares of Schlumberger in the 2nd quarter valued at about $91,364,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Schlumberger by 20.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after acquiring an additional 1,916,851 shares during the period. Legal & General Group Plc grew its holdings in shares of Schlumberger by 14.0% during the second quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Schlumberger by 14.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock worth $333,445,000 after purchasing an additional 915,705 shares during the period. Finally, Merewether Investment Management LP bought a new stake in shares of Schlumberger in the 2nd quarter worth approximately $42,957,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Wells Fargo & Company lowered their price objective on Schlumberger from $49.00 to $46.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 17th. Barclays dropped their price objective on shares of Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a report on Wednesday, December 18th. Dbs Bank assumed coverage on shares of Schlumberger in a research note on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price for the company. JPMorgan Chase & Co. dropped their price target on shares of Schlumberger from $55.00 to $48.00 and set an “overweight” rating on the stock in a research note on Thursday, January 2nd. Finally, Morgan Stanley reduced their price objective on Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research report on Monday, September 16th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.58.

Schlumberger Stock Performance

Shares of NYSE SLB opened at $39.84 on Tuesday. Schlumberger Limited has a 52-week low of $36.52 and a 52-week high of $55.69. The stock has a market capitalization of $56.26 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 1.42 and a beta of 1.52. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. The stock’s fifty day simple moving average is $40.96 and its 200 day simple moving average is $43.00.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The firm had revenue of $9.16 billion for the quarter, compared to the consensus estimate of $9.27 billion. During the same quarter in the previous year, the company earned $0.78 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Schlumberger Limited will post 3.39 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Wednesday, December 4th were paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.76%. The ex-dividend date of this dividend was Wednesday, December 4th. Schlumberger’s dividend payout ratio is 35.37%.

Insiders Place Their Bets

In other news, EVP Abdellah Merad sold 60,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the executive vice president now owns 211,937 shares of the company’s stock, valued at $8,880,160.30. This trade represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.26% of the company’s stock.

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.