Neville Rodie & Shaw Inc. Cuts Holdings in Schlumberger Limited (NYSE:SLB)

Neville Rodie & Shaw Inc. reduced its holdings in shares of Schlumberger Limited (NYSE:SLB) by 19.8% during the fourth quarter, HoldingsChannel reports. The firm owned 17,860 shares of the oil and gas company’s stock after selling 4,400 shares during the period. Neville Rodie & Shaw Inc.’s holdings in Schlumberger were worth $685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. State Street Corp boosted its holdings in shares of Schlumberger by 0.6% during the 3rd quarter. State Street Corp now owns 90,209,014 shares of the oil and gas company’s stock valued at $3,808,476,000 after acquiring an additional 528,279 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Schlumberger by 0.8% in the third quarter. Geode Capital Management LLC now owns 28,608,226 shares of the oil and gas company’s stock worth $1,195,290,000 after purchasing an additional 239,966 shares during the last quarter. Legal & General Group Plc grew its position in Schlumberger by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock worth $598,544,000 after purchasing an additional 1,560,684 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Schlumberger by 20.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after buying an additional 1,916,851 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Schlumberger by 0.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock valued at $335,214,000 after buying an additional 31,718 shares during the period. 81.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of Schlumberger stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now owns 211,937 shares in the company, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is owned by insiders.

Schlumberger Price Performance

Shares of SLB traded up $0.58 during midday trading on Monday, hitting $39.17. 3,534,718 shares of the company traded hands, compared to its average volume of 8,384,734. The stock has a market cap of $55.31 billion, a price-to-earnings ratio of 12.59, a PEG ratio of 1.42 and a beta of 1.52. The firm has a 50 day moving average of $41.12 and a 200-day moving average of $43.32. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. Schlumberger Limited has a 52 week low of $36.52 and a 52 week high of $55.69.

Schlumberger (NYSE:SLB) last announced 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 company had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The firm’s revenue was up 10.2% on a year-over-year basis. On average, analysts forecast that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Investors 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 dividend yield of 2.81%. The ex-dividend date is Wednesday, December 4th. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on SLB. Morgan Stanley lowered their target price on Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Bank of America dropped their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating on the stock in a report on Monday, October 14th. Atb Cap Markets cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 10th. UBS Group cut their price objective on shares of Schlumberger from $63.00 to $57.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Finally, Barclays lowered their target price on Schlumberger from $61.00 to $53.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 18th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $58.25.

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.