Nisa Investment Advisors LLC Sells 15,478 Shares of Schlumberger Limited (NYSE:SLB)

Nisa Investment Advisors LLC decreased its stake in Schlumberger Limited (NYSE:SLB) by 5.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 281,244 shares of the oil and gas company’s stock after selling 15,478 shares during the period. Nisa Investment Advisors LLC’s holdings in Schlumberger were worth $11,877,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Crescent Grove Advisors LLC purchased a new position in Schlumberger in the second quarter valued at approximately $257,000. National Bank of Canada FI lifted its position in shares of 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 buying an additional 51,637 shares during the last quarter. Mission Wealth Management LP bought a new position in shares of Schlumberger during the 1st quarter worth $245,000. Public Sector Pension Investment Board increased its holdings in Schlumberger by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 1,901,713 shares of the oil and gas company’s stock worth $89,723,000 after acquiring an additional 11,813 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Schlumberger by 9.0% in 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 acquiring an additional 64,974 shares during the period. 81.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, the executive vice president now directly owns 211,937 shares in the company, valued at $8,880,160.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on SLB. UBS Group cut their target price 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. Benchmark reiterated a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a report on Thursday, October 3rd. JPMorgan Chase & Co. cut their price target on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Finally, BMO Capital Markets decreased their price objective on Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a research note on Thursday, October 10th. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $60.97.

Schlumberger Price Performance

SLB stock opened at $40.16 on Thursday. The firm has a 50 day simple moving average of $42.63 and a two-hundred day simple moving average of $45.31. The stock has a market cap of $57.40 billion, a PE ratio of 13.34, a P/E/G ratio of 1.47 and a beta of 1.51. Schlumberger Limited has a one year low of $38.66 and a one year high of $57.75. 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 announced its earnings results on Friday, October 18th. The oil and gas company reported $0.89 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same period in the previous year, the business earned $0.78 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts predict that Schlumberger Limited will post 3.4 EPS for the current fiscal year.

Schlumberger Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.74%. Schlumberger’s dividend payout ratio is 36.54%.

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.