Shell Asset Management Co. Lowers Stake in Schlumberger Limited. (NYSE:SLB)

Shell Asset Management Co. trimmed its position in shares of Schlumberger Limited. (NYSE:SLB) by 3.0% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 257,125 shares of the oil and gas company’s stock after selling 8,055 shares during the quarter. Shell Asset Management Co.’s holdings in Schlumberger were worth $11,203,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc increased its holdings in shares of Schlumberger by 0.7% in the third quarter. Vanguard Group Inc now owns 108,726,647 shares of the oil and gas company’s stock valued at $6,623,627,000 after purchasing an additional 735,605 shares in the last quarter. BlackRock Inc. grew its position in shares of Schlumberger by 3.0% in the 4th quarter. BlackRock Inc. now owns 89,747,843 shares of the oil and gas company’s stock worth $3,238,103,000 after buying an additional 2,571,883 shares during the period. Geode Capital Management LLC grew its position in shares of Schlumberger by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 16,487,841 shares of the oil and gas company’s stock worth $593,754,000 after buying an additional 1,125,484 shares during the period. Norges Bank bought a new position in Schlumberger in the 4th quarter worth about $486,635,000. Finally, American Century Companies Inc. boosted its stake in Schlumberger by 15.5% in the 4th quarter. American Century Companies Inc. now owns 11,801,880 shares of the oil and gas company’s stock worth $425,812,000 after purchasing an additional 1,583,692 shares in the last quarter. Hedge funds and other institutional investors own 77.16% of the company’s stock.

Schlumberger stock traded down $0.42 during mid-day trading on Monday, reaching $39.32. 13,013,057 shares of the company were exchanged, compared to its average volume of 10,321,114. The company has a current ratio of 1.35, a quick ratio of 0.99 and a debt-to-equity ratio of 0.45. The stock has a 50-day moving average price of $37.35. The stock has a market capitalization of $55.04 billion, a price-to-earnings ratio of 24.27, a PEG ratio of 2.59 and a beta of 1.45. Schlumberger Limited. has a twelve month low of $34.46 and a twelve month high of $69.61.

Schlumberger (NYSE:SLB) last posted its quarterly earnings results on Thursday, April 18th. The oil and gas company reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $7.88 billion during the quarter, compared to analysts’ expectations of $7.82 billion. Schlumberger had a return on equity of 5.87% and a net margin of 6.19%. The company’s quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the firm earned $0.38 EPS. Sell-side analysts predict that Schlumberger Limited. will post 1.55 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Wednesday, June 5th will be issued a dividend of $0.50 per share. The ex-dividend date is Tuesday, June 4th. This represents a $2.00 annualized dividend and a yield of 5.09%. Schlumberger’s dividend payout ratio is presently 123.46%.

A number of research analysts have recently commented on the company. Jefferies Financial Group downgraded Schlumberger from a “buy” rating to a “hold” rating and lowered their target price for the company from $50.00 to $45.00 in a research report on Friday, March 15th. Stifel Nicolaus raised Schlumberger from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Friday, June 7th. Tudor Pickering lowered Schlumberger from a “hold” rating to a “sell” rating and set a $35.00 target price on the stock. in a research note on Monday, April 22nd. Royal Bank of Canada reduced their price target on Schlumberger to $51.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 15th. Finally, Goldman Sachs Group initiated coverage on Schlumberger in a report on Sunday, March 10th. They issued a “buy” rating and a $55.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and thirteen have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $55.68.

In related news, CFO Simon Ayat sold 25,000 shares of Schlumberger stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $46.10, for a total transaction of $1,152,500.00. Following the completion of the transaction, the chief financial officer now directly owns 255,971 shares of the company’s stock, valued at $11,800,263.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Alexander C. Juden sold 8,643 shares of Schlumberger stock in a transaction on Friday, April 26th. The stock was sold at an average price of $43.29, for a total value of $374,155.47. Following the transaction, the insider now directly owns 70,260 shares of the company’s stock, valued at $3,041,555.40. The disclosure for this sale can be found here. Insiders own 0.48% of the company’s stock.

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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