Schlumberger Limited (NYSE:SLB) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its stake in Schlumberger Limited (NYSE:SLB) by 62.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 200,961 shares of the oil and gas company’s stock after selling 329,268 shares during the quarter. Intech Investment Management LLC’s holdings in Schlumberger were worth $11,015,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of SLB. Norges Bank purchased a new position in shares of Schlumberger in the fourth quarter valued at approximately $1,000,292,000. Price T Rowe Associates Inc. MD boosted its stake in Schlumberger by 12.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 75,379,848 shares of the oil and gas company’s stock worth $3,922,768,000 after purchasing an additional 8,617,971 shares during the last quarter. Winslow Capital Management LLC grew its holdings in shares of Schlumberger by 123,063.5% during the fourth quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock worth $226,253,000 after buying an additional 4,344,141 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Schlumberger by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 132,281,480 shares of the oil and gas company’s stock valued at $6,883,928,000 after buying an additional 1,753,108 shares during the last quarter. Finally, Groupama Asset Managment purchased a new position in shares of Schlumberger in the fourth quarter worth about $90,730,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Stock Performance

SLB stock traded up $0.95 during mid-day trading on Friday, reaching $49.67. The company had a trading volume of 17,680,984 shares, compared to its average volume of 10,042,746. The stock’s 50-day simple moving average is $46.30 and its two-hundred day simple moving average is $49.06. The stock has a market capitalization of $71.00 billion, a P/E ratio of 16.50, a P/E/G ratio of 1.06 and a beta of 1.55. The company has a quick ratio of 1.02, a current ratio of 1.37 and a debt-to-equity ratio of 0.49. Schlumberger Limited has a one year low of $42.61 and a one year high of $62.12.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.02. The business had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.72 EPS. Research analysts anticipate that Schlumberger Limited will post 3.48 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.21%. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Analyst Ratings Changes

Several research firms have weighed in on SLB. Bank of America decreased their target price on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, July 15th. BMO Capital Markets dropped their price objective on shares of Schlumberger from $66.00 to $64.00 and set an “outperform” rating on the stock in a research report on Monday, April 22nd. Susquehanna reduced their target price on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a report on Thursday, July 11th. Barclays decreased their price objective on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research report on Thursday, April 4th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $64.00 target price on shares of Schlumberger in a research note on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $67.29.

Insider Activity

In related news, insider Bejar Carmen Rando sold 4,980 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the completion of the transaction, the insider now directly owns 22,518 shares in the company, valued at approximately $977,956.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CTO Demosthenis Pafitis sold 63,095 shares of the stock in a transaction 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 transaction, the chief technology officer now owns 33,421 shares in the company, valued at approximately $1,612,897.46. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Bejar Carmen Rando sold 4,980 shares of Schlumberger stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $43.43, for a total transaction of $216,281.40. Following the sale, the insider now owns 22,518 shares in the company, valued at $977,956.74. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 106,158 shares of company stock valued at $5,099,893. 0.26% of the stock is owned by insiders.

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.