Schlumberger Limited (NYSE:SLB) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board trimmed its position in Schlumberger Limited (NYSE:SLB) by 30.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 545,292 shares of the oil and gas company’s stock after selling 243,192 shares during the period. Canada Pension Plan Investment Board’s holdings in Schlumberger were worth $25,727,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Register Financial Advisors LLC purchased a new stake in shares of Schlumberger during the 1st quarter valued at approximately $27,000. Manchester Capital Management LLC raised its position in Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares during the period. Bruce G. Allen Investments LLC lifted its stake in shares of Schlumberger by 204.2% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after purchasing an additional 392 shares during the last quarter. Transcendent Capital Group LLC purchased a new position in shares of Schlumberger during the 4th quarter worth $32,000. Finally, Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger during the 2nd quarter worth about $30,000. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Down 0.8 %

NYSE SLB opened at $42.41 on Monday. Schlumberger Limited has a 52 week low of $38.66 and a 52 week high of $61.41. The firm has a 50 day moving average of $44.48 and a two-hundred day moving average of $47.36. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. The stock has a market capitalization of $60.62 billion, a PE ratio of 14.09, a price-to-earnings-growth ratio of 0.86 and a beta of 1.51.

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

Schlumberger Dividend Announcement

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

Insider Transactions at Schlumberger

In related news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction that occurred 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 directly owns 203,076 shares of the company’s stock, valued at $10,141,615.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction on 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 in the company, valued at approximately $3,073,428.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the transaction, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 180,716 shares of company stock valued at $9,048,624. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Dbs Bank initiated coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 target price on the stock. Barclays reduced their price target on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Piper Sandler lowered their price objective on shares of Schlumberger from $71.00 to $66.00 and set an “overweight” rating for the company in a research report on Monday, July 15th. Benchmark reissued a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Finally, StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, Schlumberger currently has an average 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.