Schlumberger Limited. (SLB) Position Reduced by Covington Capital Management

Covington Capital Management lessened its position in Schlumberger Limited. (NYSE:SLB) by 39.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 31,642 shares of the oil and gas company’s stock after selling 20,720 shares during the period. Covington Capital Management’s holdings in Schlumberger were worth $1,142,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently made changes to their positions in SLB. Capital International Investors grew its stake in Schlumberger by 62.5% in the third quarter. Capital International Investors now owns 33,296,194 shares of the oil and gas company’s stock valued at $2,028,404,000 after acquiring an additional 12,810,020 shares during the period. Two Sigma Advisers LP lifted its holdings in shares of Schlumberger by 139,145.2% in the fourth quarter. Two Sigma Advisers LP now owns 7,140,492 shares of the oil and gas company’s stock valued at $257,629,000 after purchasing an additional 7,135,364 shares in the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in shares of Schlumberger by 3,478.9% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,436,967 shares of the oil and gas company’s stock valued at $151,000 after purchasing an additional 5,285,050 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Schlumberger by 3.0% in the fourth quarter. BlackRock Inc. now owns 89,747,843 shares of the oil and gas company’s stock valued at $3,238,103,000 after purchasing an additional 2,571,883 shares in the last quarter. Finally, Standard Life Aberdeen plc lifted its holdings in shares of Schlumberger by 47.3% in the fourth quarter. Standard Life Aberdeen plc now owns 6,949,183 shares of the oil and gas company’s stock valued at $253,402,000 after purchasing an additional 2,232,146 shares in the last quarter. 78.94% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts have recently weighed in on the company. SunTrust Banks raised their target price on Schlumberger to $53.00 and gave the company a “buy” rating in a report on Tuesday. Stifel Nicolaus set a $50.00 target price on Schlumberger and gave the company a “hold” rating in a report on Monday. BMO Capital Markets set a $44.00 price target on Schlumberger and gave the stock a “hold” rating in a report on Monday. Morgan Stanley set a $51.00 price target on Schlumberger and gave the stock a “hold” rating in a report on Monday. Finally, Tudor Pickering lowered Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 price target on the stock. in a report on Monday. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company. Schlumberger currently has an average rating of “Hold” and an average price target of $57.53.

Shares of SLB traded down $1.65 during mid-day trading on Wednesday, hitting $44.24. The stock had a trading volume of 7,726,804 shares, compared to its average volume of 10,349,268. The firm has a market cap of $63.14 billion, a PE ratio of 27.31, a PEG ratio of 2.04 and a beta of 1.33. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.35 and a quick ratio of 0.87. Schlumberger Limited. has a 52 week low of $34.99 and a 52 week high of $75.43.

Schlumberger (NYSE:SLB) last issued its earnings results on Thursday, April 18th. The oil and gas company reported $0.30 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The firm had revenue of $7.88 billion for the quarter, compared to analyst estimates of $7.82 billion. Schlumberger had a return on equity of 5.87% and a net margin of 6.19%. The business’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $0.38 earnings per share. Sell-side analysts anticipate that Schlumberger Limited. will post 1.6 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Wednesday, June 5th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 4th. This represents a $2.00 annualized dividend and a dividend yield of 4.52%. Schlumberger’s payout ratio is presently 123.46%.

In other Schlumberger news, CFO Simon Ayat sold 25,000 shares of the business’s stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $46.10, for a total value of $1,152,500.00. Following the sale, the chief financial officer now directly owns 255,971 shares in the company, valued at $11,800,263.10. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.48% of the company’s stock.

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About Schlumberger

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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