Chesley Taft & Associates LLC Cuts Position in Schlumberger Limited (NYSE:SLB)

Chesley Taft & Associates LLC lowered its stake in Schlumberger Limited (NYSE:SLB) by 1.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 32,306 shares of the oil and gas company’s stock after selling 435 shares during the quarter. Chesley Taft & Associates LLC’s holdings in Schlumberger were worth $1,355,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Crescent Grove Advisors LLC acquired a new stake in Schlumberger during the 2nd quarter valued at approximately $257,000. National Bank of Canada FI grew its stake in Schlumberger by 15.0% during the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after purchasing an additional 51,637 shares in the last quarter. Mission Wealth Management LP acquired a new stake in Schlumberger during the 1st quarter valued at approximately $245,000. Public Sector Pension Investment Board grew its stake in Schlumberger by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock valued at $89,723,000 after purchasing an additional 11,813 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Schlumberger by 9.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after purchasing an additional 64,974 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity

In other news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Stephane Biguet sold 50,048 shares of Schlumberger stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the transaction, the chief financial officer now owns 203,076 shares in the company, valued at $10,141,615.44. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 180,716 shares of company stock worth $9,048,624. 0.26% of the stock is owned by company insiders.

Schlumberger Stock Down 3.2 %

Shares of Schlumberger stock opened at $44.14 on Wednesday. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $61.20. The company has a market capitalization of $63.09 billion, a P/E ratio of 14.66, a PEG ratio of 0.94 and a beta of 1.51. The business’s fifty day moving average price is $43.30 and its two-hundred day moving average price is $46.63. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13.

Schlumberger (NYSE:SLB) last issued 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 return on equity of 21.92% and a net margin of 12.56%. The company had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same period last year, the firm earned $0.72 EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, research analysts forecast that Schlumberger Limited will post 3.48 EPS for the current year.

Schlumberger Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 2.49%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is presently 36.54%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a research note on Tuesday, October 1st. Wells Fargo & Company reduced their target price on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Evercore ISI increased their target price on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Benchmark reaffirmed a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Finally, 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. Two analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $65.29.

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.