Royal London Asset Management Ltd. Sells 5,422 Shares of Schlumberger Limited. (SLB)

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Royal London Asset Management Ltd. cut its stake in Schlumberger Limited. (NYSE:SLB) by 0.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 583,158 shares of the oil and gas company’s stock after selling 5,422 shares during the period. Royal London Asset Management Ltd.’s holdings in Schlumberger were worth $35,529,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Mainstay Capital Management LLC ADV grew its position in shares of Schlumberger by 3,884.1% during the 2nd quarter. Mainstay Capital Management LLC ADV now owns 6,773 shares of the oil and gas company’s stock worth $105,000 after buying an additional 6,603 shares during the period. Zions Bancorporation acquired a new stake in shares of Schlumberger during the 3rd quarter worth approximately $131,000. Truvestments Capital LLC acquired a new position in Schlumberger during the third quarter valued at approximately $132,000. Whitener Capital Management Inc. acquired a new position in Schlumberger during the third quarter worth $137,000. Finally, Moneta Group Investment Advisors LLC increased its holdings in Schlumberger by 909.1% during the second quarter. Moneta Group Investment Advisors LLC now owns 22,352 shares of the oil and gas company’s stock worth $138,000 after buying an additional 20,137 shares during the last quarter. 77.74% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages recently weighed in on SLB. ValuEngine upgraded shares of Schlumberger from a “sell” rating to a “hold” rating in a report on Thursday, October 4th. Jefferies Financial Group lowered their target price on shares of Schlumberger from $80.00 to $75.00 and set a “buy” rating on the stock in a report on Wednesday, September 26th. Wolfe Research started coverage on shares of Schlumberger in a report on Wednesday, October 10th. They set a “market perform” rating on the stock. Tudor Pickering downgraded shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd. Finally, Macquarie set a $71.00 price objective on shares of Schlumberger and gave the company a “hold” rating in a report on Tuesday, October 2nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seventeen have assigned a buy rating to the company. Schlumberger has an average rating of “Buy” and a consensus target price of $74.50.

SLB stock opened at $42.32 on Friday. The stock has a market capitalization of $61.10 billion, a PE ratio of 28.21, a P/E/G ratio of 4.35 and a beta of 1.04. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.13 and a quick ratio of 0.85. Schlumberger Limited. has a 12 month low of $41.87 and a 12 month high of $80.35.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 19th. The oil and gas company reported $0.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $8.50 billion during the quarter, compared to analyst estimates of $8.57 billion. Schlumberger had a negative net margin of 2.00% and a positive return on equity of 6.55%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the business earned $0.42 EPS. As a group, analysts anticipate that Schlumberger Limited. will post 1.69 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Wednesday, December 5th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $2.00 dividend on an annualized basis and a yield of 4.73%. Schlumberger’s dividend payout ratio (DPR) is presently 133.33%.

In other Schlumberger news, CFO Simon Ayat sold 60,000 shares of the stock in a transaction that occurred on Tuesday, October 30th. The shares were sold at an average price of $56.60, for a total transaction of $3,396,000.00. Following the completion of the sale, the chief financial officer now owns 234,008 shares of the company’s stock, valued at approximately $13,244,852.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.48% of the company’s stock.

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Schlumberger Company Profile

Schlumberger Limited supplies technology products and services to the oil and gas exploration and production industry worldwide. The company's Reservoir Characterization Group segment provides reservoir interpretation and data processing services; open and cased-hole services; slickline services; exploration and production pressure and flow-rate measurement services at the surface and downhole; software integrated solutions, such as software, consulting, information management, and IT infrastructure services; consulting services for reservoir characterization, field development planning, and production enhancement; and petrotechnical data services and training solutions, as well as integrated management services.

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Institutional Ownership by Quarter for Schlumberger (NYSE:SLB)

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