Public Sector Pension Investment Board Sells 1,655,160 Shares of Schlumberger Limited (NYSE:SLB)

Public Sector Pension Investment Board reduced its holdings in shares of Schlumberger Limited (NYSE:SLB) by 87.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 246,553 shares of the oil and gas company’s stock after selling 1,655,160 shares during the quarter. Public Sector Pension Investment Board’s holdings in Schlumberger were worth $10,343,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SLB. ORG Partners LLC boosted its stake in shares of 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 period. Bruce G. Allen Investments LLC boosted its stake in Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 392 shares during the period. Prospera Private Wealth LLC bought a new stake in Schlumberger in the 3rd quarter valued at $29,000. Unique Wealth Strategies LLC bought a new stake in Schlumberger in the 2nd quarter valued at $30,000. Finally, Riverview Trust Co boosted its stake in Schlumberger by 90.6% in the 2nd 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 period. 81.99% of the stock is currently owned by institutional investors.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the sale, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by corporate insiders.

Schlumberger Trading Up 0.4 %

NYSE SLB opened at $43.66 on Friday. The business’s 50-day moving average price is $42.95 and its two-hundred day moving average price is $44.45. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $55.69. The firm has a market capitalization of $61.65 billion, a PE ratio of 14.04, a price-to-earnings-growth ratio of 1.54 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $9.27 billion. During the same quarter in the previous year, the company posted $0.78 EPS. The business’s revenue was up 10.2% on a year-over-year basis. On average, analysts expect that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.52%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Analysts Set New Price Targets

SLB has been the subject of several recent research reports. Citigroup reduced their price target on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research note on Tuesday, October 22nd. Bank of America reduced their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, October 14th. TD Cowen dropped their price objective on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a report on Monday, October 21st. BMO Capital Markets dropped their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating for the company in a report on Thursday, October 10th. Finally, JPMorgan Chase & Co. dropped their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Two investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $60.97.

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.