Public Employees Retirement Association of Colorado Reduces Position in Schlumberger Limited (NYSE:SLB)

Public Employees Retirement Association of Colorado cut its holdings in Schlumberger Limited (NYSE:SLB) by 4.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,148 shares of the oil and gas company’s stock after selling 9,584 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Schlumberger were worth $11,189,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. BCM Advisors LLC lifted its stake in Schlumberger by 1.1% in the first quarter. BCM Advisors LLC now owns 18,904 shares of the oil and gas company’s stock valued at $1,036,000 after buying an additional 204 shares during the last quarter. Checchi Capital Advisers LLC raised its stake in Schlumberger by 1.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock valued at $592,000 after acquiring an additional 204 shares during the last quarter. Hilltop Holdings Inc. lifted its position in Schlumberger by 2.1% during the 4th quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock worth $560,000 after acquiring an additional 219 shares during the period. Team Hewins LLC grew its stake in shares of Schlumberger by 3.0% in the 1st quarter. Team Hewins LLC now owns 7,924 shares of the oil and gas company’s stock valued at $436,000 after purchasing an additional 229 shares during the last quarter. Finally, Sunbelt Securities Inc. increased its holdings in shares of Schlumberger by 2.2% in the first quarter. Sunbelt Securities Inc. now owns 10,551 shares of the oil and gas company’s stock valued at $578,000 after purchasing an additional 230 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Schlumberger Trading Down 2.0 %

NYSE:SLB opened at $47.86 on Tuesday. Schlumberger Limited has a 52-week low of $42.61 and a 52-week high of $62.12. 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 fifty day simple moving average of $46.31 and a 200-day simple moving average of $48.98. The company has a market capitalization of $67.95 billion, a PE ratio of 15.90, a price-to-earnings-growth ratio of 1.04 and a beta of 1.55.

Schlumberger (NYSE:SLB) last posted its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.14 billion during the quarter, compared to the consensus estimate of $9.08 billion. During the same period last year, the firm posted $0.72 EPS. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities research analysts expect that Schlumberger Limited will post 3.5 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s payout ratio is currently 36.54%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Morgan Stanley reiterated an “overweight” rating and issued a $65.00 price objective on shares of Schlumberger in a research report on Monday, April 22nd. Bank of America dropped their price target on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a research note on Monday, July 15th. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price objective on shares of Schlumberger in a research report on Monday, July 22nd. TD Cowen boosted their target price on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Finally, Wells Fargo & Company downgraded Schlumberger from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $68.00 to $53.00 in a research note on Monday, April 29th. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $67.56.

Insider Buying and Selling at Schlumberger

In other news, CTO Demosthenis Pafitis sold 63,095 shares of the business’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total value of $3,044,964.70. Following the completion of the transaction, the chief technology officer now directly owns 33,421 shares of the company’s stock, valued at $1,612,897.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CTO Demosthenis Pafitis sold 63,095 shares of Schlumberger stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $48.26, for a total transaction of $3,044,964.70. Following the completion of the sale, the chief technology officer now owns 33,421 shares in the company, valued at approximately $1,612,897.46. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the completion of the transaction, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 286,874 shares of company stock worth $14,148,517. 0.26% of the stock is owned by insiders.

Schlumberger Company 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.