Intech Investment Management LLC Decreases Stake in Schlumberger Limited (NYSE:SLB)

Intech Investment Management LLC cut its position in shares of Schlumberger Limited (NYSE:SLB) by 18.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 163,782 shares of the oil and gas company’s stock after selling 37,179 shares during the period. Intech Investment Management LLC’s holdings in Schlumberger were worth $7,727,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. BCM Advisors LLC lifted its position in shares of Schlumberger by 1.1% during the first quarter. BCM Advisors LLC now owns 18,904 shares of the oil and gas company’s stock valued at $1,036,000 after buying an additional 204 shares during the last quarter. Checchi Capital Advisers LLC lifted its position in Schlumberger by 1.9% during the first quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock valued at $592,000 after acquiring an additional 204 shares during the last quarter. Financial Advocates Investment Management boosted its stake in Schlumberger by 3.4% in the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 218 shares in the last quarter. Hilltop Holdings Inc. grew its holdings in Schlumberger by 2.1% in the fourth quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock worth $560,000 after purchasing an additional 219 shares during the last quarter. Finally, Chilton Capital Management LLC increased its position in shares of Schlumberger by 0.8% during the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock worth $1,236,000 after purchasing an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Down 0.8 %

Schlumberger stock opened at $42.41 on Friday. The firm has a market cap of $60.22 billion, a PE ratio of 14.09, a P/E/G ratio of 0.86 and a beta of 1.51. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $61.41. The stock’s 50 day simple moving average is $44.48 and its two-hundred day simple moving average is $47.40. The company has a current ratio of 1.49, a quick ratio of 1.13 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, topping analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same period in the prior year, the firm posted $0.72 earnings per share. The firm’s quarterly revenue was up 12.8% compared to the same quarter last year. Analysts anticipate that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.59%. Schlumberger’s dividend payout ratio is presently 36.54%.

Insider Buying and Selling

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the sale, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Vijay Kasibhatla sold 10,000 shares of the company’s 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 transaction, the director now owns 62,354 shares of the company’s stock, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. In the last 90 days, insiders sold 180,716 shares of company stock valued at $9,048,624. 0.26% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Susquehanna lowered their price objective on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, July 11th. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Barclays decreased 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. Benchmark reiterated a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Finally, Evercore ISI upped their price target on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a research note on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and eighteen have assigned a 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 $66.29.

About Schlumberger

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.