Mn Services Vermogensbeheer B.V. Sells 55,500 Shares of Schlumberger Limited. (NYSE:SLB)

Mn Services Vermogensbeheer B.V. trimmed its stake in Schlumberger Limited. (NYSE:SLB) by 7.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 710,066 shares of the oil and gas company’s stock after selling 55,500 shares during the period. Mn Services Vermogensbeheer B.V. owned 0.05% of Schlumberger worth $28,218,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of SLB. Ellis Investment Partners LLC bought a new position in shares of Schlumberger in the 1st quarter valued at approximately $26,000. CX Institutional raised its stake in shares of Schlumberger by 158.4% in the 1st quarter. CX Institutional now owns 646 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 396 shares in the last quarter. Quad Cities Investment Group LLC bought a new position in shares of Schlumberger in the 2nd quarter valued at approximately $32,000. Old North State Trust LLC raised its stake in shares of Schlumberger by 100.2% in the 1st quarter. Old North State Trust LLC now owns 871 shares of the oil and gas company’s stock valued at $37,000 after acquiring an additional 436 shares in the last quarter. Finally, Lenox Wealth Management Inc. raised its stake in shares of Schlumberger by 41.1% in the 1st quarter. Lenox Wealth Management Inc. now owns 879 shares of the oil and gas company’s stock valued at $38,000 after acquiring an additional 256 shares in the last quarter. 77.24% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Patrick Schorn sold 12,151 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $38.93, for a total transaction of $473,038.43. Following the sale, the executive vice president now owns 130,000 shares of the company’s stock, valued at approximately $5,060,900. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Stephanie Cox sold 24,057 shares of Schlumberger stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $40.59, for a total value of $976,473.63. Following the sale, the insider now directly owns 46,354 shares in the company, valued at approximately $1,881,508.86. The disclosure for this sale can be found here. 0.48% of the stock is currently owned by company insiders.

Several brokerages have commented on SLB. Barclays dropped their price target on Schlumberger from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 9th. SunTrust Banks lifted their price target on Schlumberger to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Morgan Stanley set a $51.00 price target on Schlumberger and gave the stock a “hold” rating in a research report on Monday, April 22nd. Raymond James reaffirmed a “hold” rating on shares of Schlumberger in a research report on Friday, June 21st. Finally, AltaCorp Capital reaffirmed an “outperform” rating on shares of Schlumberger in a research report on Thursday, June 20th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company’s stock. Schlumberger currently has an average rating of “Hold” and a consensus target price of $52.17.

Shares of NYSE:SLB opened at $37.42 on Monday. Schlumberger Limited. has a 1-year low of $34.46 and a 1-year high of $67.31. The firm has a market cap of $51.75 billion, a price-to-earnings ratio of 23.10, a PEG ratio of 2.35 and a beta of 1.44. The stock’s 50 day moving average price is $39.07. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.39 and a quick ratio of 1.01.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.35 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.35. Schlumberger had a return on equity of 5.62% and a net margin of 6.38%. The company had revenue of $8.27 billion for the quarter, compared to analyst estimates of $8.11 billion. During the same quarter last year, the firm earned $0.43 EPS. Schlumberger’s revenue for the quarter was down .4% compared to the same quarter last year. As a group, equities research analysts anticipate that Schlumberger Limited. will post 1.51 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 5.34%. The ex-dividend date is Tuesday, September 3rd. Schlumberger’s payout ratio is presently 123.46%.

Schlumberger Profile

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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