Schlumberger Limited (NYSE:SLB) Stock Position Reduced by Caisse DE Depot ET Placement DU Quebec

Caisse DE Depot ET Placement DU Quebec decreased its stake in Schlumberger Limited (NYSE:SLB) by 45.8% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 836,536 shares of the oil and gas company’s stock after selling 707,991 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.06% of Schlumberger worth $35,093,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SLB. Financial Advocates Investment Management boosted its position in Schlumberger by 3.4% during the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after purchasing an additional 218 shares during the last quarter. Chilton Capital Management LLC grew its stake in shares of Schlumberger by 0.8% in the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after buying an additional 219 shares in the last quarter. Grove Bank & Trust increased its holdings in Schlumberger by 17.4% in the third quarter. Grove Bank & Trust now owns 1,514 shares of the oil and gas company’s stock worth $64,000 after buying an additional 224 shares during the last quarter. First PREMIER Bank raised its position in Schlumberger by 8.7% during the second quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock valued at $134,000 after acquiring an additional 227 shares in the last quarter. Finally, Addison Advisors LLC lifted its stake in Schlumberger by 6.5% in the second quarter. Addison Advisors LLC now owns 3,794 shares of the oil and gas company’s stock valued at $179,000 after acquiring an additional 233 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Activity at Schlumberger

In other news, EVP Abdellah Merad sold 60,000 shares of the stock in a transaction that occurred on Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SLB. BMO Capital Markets cut their price target on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Evercore ISI reduced their price target on Schlumberger from $74.00 to $62.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Wells Fargo & Company lowered their price objective on Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Bank of America reduced their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Dbs Bank assumed coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price target on the stock. Two research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $60.97.

Schlumberger Trading Up 0.6 %

Schlumberger stock opened at $43.94 on Monday. The business has a 50 day moving average price of $42.98 and a two-hundred day moving average price of $44.36. The company has a quick ratio of 1.12, a current ratio of 1.48 and a debt-to-equity ratio of 0.52. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $55.69. The stock has a market cap of $62.05 billion, a price-to-earnings ratio of 14.13, a price-to-earnings-growth ratio of 1.55 and a beta of 1.52.

Schlumberger (NYSE:SLB) last issued its earnings results on Friday, October 18th. The oil and gas company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. Schlumberger had a return on equity of 21.84% and a net margin of 12.44%. The business had revenue of $9.16 billion during the quarter, compared to analyst estimates of $9.27 billion. During the same period in the prior year, the company posted $0.78 earnings per share. Schlumberger’s revenue was up 10.2% on a year-over-year basis. As a group, equities analysts forecast that Schlumberger Limited will post 3.39 EPS for the current year.

Schlumberger Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.50%. Schlumberger’s dividend payout ratio (DPR) is currently 35.37%.

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.