Schlumberger Limited (NYSE:SLB) Stock Position Lessened by California Public Employees Retirement System

California Public Employees Retirement System lowered its position in shares of Schlumberger Limited (NYSE:SLB) by 3.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,578,983 shares of the oil and gas company’s stock after selling 82,303 shares during the quarter. California Public Employees Retirement System owned 0.18% of Schlumberger worth $134,210,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the company. Wedge Capital Management L L P NC boosted its stake in Schlumberger by 14.5% during the fourth quarter. Wedge Capital Management L L P NC now owns 133,394 shares of the oil and gas company’s stock valued at $6,942,000 after buying an additional 16,867 shares in the last quarter. Mengis Capital Management Inc. lifted its stake in Schlumberger by 75.2% in the 4th quarter. Mengis Capital Management Inc. now owns 73,355 shares of the oil and gas company’s stock worth $3,817,000 after acquiring an additional 31,476 shares in the last quarter. Stock Yards Bank & Trust Co. lifted its stake in Schlumberger by 9.0% in the 4th quarter. Stock Yards Bank & Trust Co. now owns 430,182 shares of the oil and gas company’s stock worth $22,387,000 after acquiring an additional 35,537 shares in the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in Schlumberger in the 4th quarter worth about $348,000. Finally, Cetera Trust Company N.A purchased a new stake in Schlumberger in the 4th quarter worth about $46,000. Institutional investors own 81.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research note on Monday, April 1st. Barclays cut their price target on Schlumberger from $74.00 to $70.00 and set an “overweight” rating for the company in a research note on Thursday, April 4th. TD Cowen cut their price target on Schlumberger from $64.00 to $63.00 and set a “buy” rating for the company in a research note on Monday. Morgan Stanley reaffirmed an “overweight” rating and set a $65.00 price target on shares of Schlumberger in a research note on Monday. Finally, Benchmark reissued a “buy” rating and issued a $68.00 price objective on shares of Schlumberger in a research note on Monday. One research analyst has rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $69.67.

Schlumberger Price Performance

Shares of NYSE:SLB opened at $49.55 on Wednesday. The company has a current ratio of 1.37, a quick ratio of 1.02 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $70.73 billion, a PE ratio of 16.46, a PEG ratio of 0.95 and a beta of 1.60. Schlumberger Limited has a 1-year low of $42.73 and a 1-year high of $62.12. The business’s 50 day moving average is $51.68 and its 200-day moving average is $52.28.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, April 19th. The oil and gas company reported $0.75 EPS for the quarter, hitting the consensus estimate of $0.75. The business had revenue of $8.71 billion during the quarter, compared to the consensus estimate of $8.70 billion. Schlumberger had a return on equity of 21.88% and a net margin of 12.72%. Schlumberger’s revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the company earned $0.63 EPS. Sell-side analysts predict that Schlumberger Limited will post 3.5 earnings per share for the current year.

Schlumberger Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 11th. Shareholders of record on Wednesday, June 5th will be paid a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, June 5th. This represents a $1.10 dividend on an annualized basis and a yield of 2.22%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. Schlumberger’s payout ratio is currently 36.54%.

Insiders Place Their Bets

In other Schlumberger news, VP Kevin Fyfe sold 20,223 shares of the business’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $52.05, for a total value of $1,052,607.15. Following the transaction, the vice president now owns 31,198 shares of the company’s stock, valued at $1,623,855.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, VP Kevin Fyfe sold 20,223 shares of the company’s stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $52.05, for a total transaction of $1,052,607.15. Following the transaction, the vice president now owns 31,198 shares of the company’s stock, valued at $1,623,855.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Stephane Biguet sold 6,250 shares of the company’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $52.78, for a total value of $329,875.00. Following the transaction, the chief financial officer now directly owns 249,182 shares in the company, valued at approximately $13,151,825.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,768 shares of company stock valued at $5,511,037. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Profile

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.