Vanguard Personalized Indexing Management LLC Trims Stock Holdings in Schlumberger Limited (NYSE:SLB)

Vanguard Personalized Indexing Management LLC cut its holdings in shares of Schlumberger Limited (NYSE:SLB) by 2.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 106,947 shares of the oil and gas company’s stock after selling 2,322 shares during the period. Vanguard Personalized Indexing Management LLC’s holdings in Schlumberger were worth $5,045,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Capital World Investors raised its holdings in shares of Schlumberger by 72.3% in the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock valued at $4,875,402,000 after buying an additional 37,333,485 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Schlumberger by 14.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after acquiring an additional 10,606,191 shares during the last quarter. Winslow Capital Management LLC lifted its position in Schlumberger by 123,063.5% during the 4th quarter. Winslow Capital Management LLC now owns 4,347,671 shares of the oil and gas company’s stock worth $226,253,000 after acquiring an additional 4,344,141 shares during the period. Boston Partners grew its stake in shares of Schlumberger by 35.8% in the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock valued at $635,883,000 after purchasing an additional 3,069,395 shares during the last quarter. Finally, Ceredex Value Advisors LLC acquired a new position in shares of Schlumberger in the second quarter valued at approximately $92,944,000. 81.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on SLB shares. TD Cowen increased their price target on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Citigroup lowered their target price on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Bank of America dropped their price target on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Barclays reduced their price objective on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Finally, Evercore ISI boosted their target price on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and an average price target of $66.29.

Insider Transactions at Schlumberger

In related news, 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 transaction of $492,900.00. Following the completion of the sale, the director now owns 62,354 shares in the company, valued at approximately $3,073,428.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the sale, the director now directly owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the transaction, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. Insiders sold a total of 180,716 shares of company stock valued at $9,048,624 over the last three months. 0.26% of the stock is currently owned by insiders.

Schlumberger Price Performance

Schlumberger stock opened at $41.44 on Thursday. The firm has a market capitalization of $59.22 billion, a PE ratio of 13.77, a P/E/G ratio of 0.85 and a beta of 1.52. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $61.70. The firm’s 50-day simple moving average is $44.63 and its 200 day simple moving average is $47.48. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last announced its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same quarter in the prior year, the firm earned $0.72 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities research analysts predict that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.65%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s payout ratio is 36.54%.

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.