Chevy Chase Trust Holdings LLC Has $117.39 Million Holdings in Schlumberger Limited (NYSE:SLB)

Chevy Chase Trust Holdings LLC lessened its position in Schlumberger Limited (NYSE:SLB) by 7.5% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,488,154 shares of the oil and gas company’s stock after selling 200,751 shares during the period. Chevy Chase Trust Holdings LLC owned about 0.17% of Schlumberger worth $117,391,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of SLB. Register Financial Advisors LLC bought a new stake in Schlumberger in the first quarter valued at about $27,000. Bruce G. Allen Investments LLC lifted its stake in Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after buying an additional 392 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in shares of Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 426 shares in the last quarter. Riverview Trust Co boosted its holdings in Schlumberger by 90.6% during the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock worth $31,000 after purchasing an additional 308 shares during the last quarter. Finally, Transcendent Capital Group LLC acquired a new stake in shares of Schlumberger in the fourth quarter valued at about $32,000. 81.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SLB has been the topic of a number of recent analyst reports. TD Cowen boosted their price target on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Bank of America dropped their target price on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, July 15th. Susquehanna decreased their price target on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, July 11th. BMO Capital Markets decreased their price objective on Schlumberger from $66.00 to $64.00 and set an “outperform” rating for the company in a report on Monday, April 22nd. Finally, Benchmark reaffirmed a “buy” rating and set a $68.00 target price on shares of Schlumberger in a research note on Monday, July 22nd. Two analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $67.00.

Schlumberger Stock Performance

NYSE:SLB traded down $1.33 on Tuesday, hitting $44.03. The stock had a trading volume of 7,404,833 shares, compared to its average volume of 10,751,265. Schlumberger Limited has a 52-week low of $42.61 and a 52-week high of $62.12. The stock has a market cap of $62.52 billion, a price-to-earnings ratio of 15.07, a price-to-earnings-growth ratio of 0.93 and a beta of 1.55. 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 business’s 50-day simple moving average is $46.11 and its two-hundred day simple moving average is $48.40.

Schlumberger (NYSE:SLB) last issued its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping 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 business had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same quarter last year, the company posted $0.72 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. As a group, research analysts predict that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a $0.275 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.50%. Schlumberger’s payout ratio is currently 36.54%.

Insider Activity

In related news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the transaction, the chief financial officer now directly owns 203,076 shares in the company, valued at approximately $10,141,615.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Schlumberger news, insider Gavin Rennick sold 38,083 shares of the company’s stock in a transaction on Wednesday, May 22nd. The stock was sold at an average price of $48.28, for a total transaction of $1,838,647.24. Following the completion of the sale, the insider now owns 45,851 shares in the company, valued at $2,213,686.28. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the sale, the chief financial officer now owns 203,076 shares in the company, valued at $10,141,615.44. The disclosure for this sale can be found here. Insiders have sold 223,779 shares of company stock worth $11,103,553 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

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.