Caprock Group LLC Cuts Holdings in Schlumberger Limited (NYSE:SLB)

Caprock Group LLC cut its holdings in Schlumberger Limited (NYSE:SLB) by 18.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,712 shares of the oil and gas company’s stock after selling 6,121 shares during the quarter. Caprock Group LLC’s holdings in Schlumberger were worth $1,129,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Pathstone Holdings LLC grew its stake in shares of Schlumberger by 3.6% during the 3rd quarter. Pathstone Holdings LLC now owns 148,635 shares of the oil and gas company’s stock worth $6,240,000 after purchasing an additional 5,105 shares during the period. Islay Capital Management LLC grew its position in Schlumberger by 4,952.4% during the third quarter. Islay Capital Management LLC now owns 26,525 shares of the oil and gas company’s stock worth $1,113,000 after buying an additional 26,000 shares during the period. Swiss National Bank increased its holdings in Schlumberger by 0.7% in the third quarter. Swiss National Bank now owns 4,242,627 shares of the oil and gas company’s stock valued at $177,978,000 after buying an additional 29,200 shares in the last quarter. S&CO Inc. lifted its position in shares of Schlumberger by 51.7% during the 3rd quarter. S&CO Inc. now owns 6,750 shares of the oil and gas company’s stock valued at $283,000 after acquiring an additional 2,300 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Schlumberger by 2.1% during the 3rd quarter. Thrivent Financial for Lutherans now owns 225,906 shares of the oil and gas company’s stock worth $9,476,000 after acquiring an additional 4,665 shares in the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Performance

NYSE SLB opened at $44.10 on Friday. The business’s 50-day simple moving average is $42.70 and its 200-day simple moving average is $44.60. The firm has a market capitalization of $62.28 billion, a P/E ratio of 14.18, a P/E/G ratio of 1.52 and a beta of 1.52. Schlumberger Limited has a 1-year low of $38.66 and a 1-year high of $55.69. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.48 and a quick ratio of 1.12.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The business 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 business posted $0.78 EPS. The business’s quarterly revenue was up 10.2% on a year-over-year basis. Equities analysts predict that Schlumberger Limited will post 3.4 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 issued a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is presently 35.37%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SLB. UBS Group reduced their price objective on Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Citigroup cut 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. Susquehanna lowered their price objective on shares of Schlumberger from $60.00 to $56.00 and set a “positive” rating on the stock in a research note on Monday, October 21st. Stifel Nicolaus restated a “buy” rating and set a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Finally, Morgan Stanley lowered their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a research report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and a consensus 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.