Schlumberger Limited (NYSE:SLB) Shares Sold by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. lessened its stake in shares of Schlumberger Limited (NYSE:SLB) by 62.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 38,497 shares of the oil and gas company’s stock after selling 62,824 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in Schlumberger were worth $2,110,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. BCM Advisors LLC boosted its holdings in shares of Schlumberger by 1.1% during the first quarter. BCM Advisors LLC now owns 18,904 shares of the oil and gas company’s stock worth $1,036,000 after purchasing an additional 204 shares during the last quarter. Checchi Capital Advisers LLC boosted its holdings in shares of Schlumberger by 1.9% during the first quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock worth $592,000 after purchasing an additional 204 shares during the last quarter. Hilltop Holdings Inc. boosted its holdings in shares of Schlumberger by 2.1% during the fourth quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock worth $560,000 after purchasing an additional 219 shares during the last quarter. Team Hewins LLC boosted its holdings in shares of Schlumberger by 3.0% during the first quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock worth $436,000 after purchasing an additional 229 shares during the last quarter. Finally, Sunbelt Securities Inc. boosted its holdings in shares of Schlumberger by 2.2% during the first quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock worth $578,000 after purchasing an additional 230 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Up 1.2 %

Shares of NYSE SLB traded up $0.60 during midday trading on Friday, reaching $48.83. 8,187,262 shares of the company’s stock were exchanged, compared to its average volume of 11,073,436. Schlumberger Limited has a 52-week low of $42.61 and a 52-week high of $62.12. The stock has a market capitalization of $69.79 billion, a PE ratio of 16.22, a price-to-earnings-growth ratio of 1.02 and a beta of 1.55. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The business’s fifty day moving average price is $46.32 and its two-hundred day moving average price is $48.98.

Schlumberger (NYSE:SLB) last announced 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. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The business had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. During the same period in the previous year, the company earned $0.72 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. Analysts forecast that Schlumberger Limited will post 3.5 EPS for the current year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders 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 dividend yield of 2.25%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s payout ratio is 36.54%.

Insider Transactions at Schlumberger

In related news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction dated 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 completion of the transaction, the chief technology officer now directly owns 33,421 shares in the company, valued at $1,612,897.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction dated 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 completion of the transaction, the chief technology officer now directly owns 33,421 shares in the company, valued at $1,612,897.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $49.29, for a total value of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 286,874 shares of company stock valued at $14,148,517. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

SLB has been the topic of a number of research analyst reports. Bank of America reduced their target price on Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Citigroup reduced their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Stifel Nicolaus reiterated a “buy” rating and issued a $64.00 target price on shares of Schlumberger in a report on Monday, April 22nd. Barclays reduced their target price on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday. Finally, Evercore ISI lifted their target price on Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday. Two investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $67.56.

Schlumberger Company 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.