Asset Management One Co. Ltd. Trims Stock Holdings in Schlumberger Limited (NYSE:SLB)

Asset Management One Co. Ltd. lowered its holdings in Schlumberger Limited (NYSE:SLB – Get Rating) by 1.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 585,885 shares of the oil and gas company’s stock after selling 6,552 shares during the period. Asset Management One Co. Ltd.’s holdings in Schlumberger were worth $21,033,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in Schlumberger during the first quarter valued at approximately $25,000. Clearview Wealth Advisors LLC raised its stake in Schlumberger by 1,346.0% during the third quarter. Clearview Wealth Advisors LLC now owns 723 shares of the oil and gas company’s stock valued at $26,000 after buying an additional 673 shares in the last quarter. Castle Wealth Management LLC acquired a new stake in Schlumberger during the second quarter valued at approximately $27,000. James Investment Research Inc. acquired a new stake in Schlumberger during the third quarter valued at approximately $28,000. Finally, SRS Capital Advisors Inc. raised its stake in Schlumberger by 216.0% during the second quarter. SRS Capital Advisors Inc. now owns 809 shares of the oil and gas company’s stock valued at $29,000 after buying an additional 553 shares in the last quarter. Institutional investors and hedge funds own 80.22% of the company’s stock.

Schlumberger Stock Performance

Shares of NYSE SLB opened at $55.47 on Wednesday. The stock has a fifty day moving average price of $52.95 and a two-hundred day moving average price of $44.91. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.92 and a current ratio of 1.25. The firm has a market cap of $78.66 billion, a P/E ratio of 23.11, a PEG ratio of 0.49 and a beta of 1.79. Schlumberger Limited has a 1 year low of $30.65 and a 1 year high of $62.78.

Schlumberger (NYSE:SLB – Get Rating) last issued its quarterly earnings results on Friday, January 20th. The oil and gas company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The firm had revenue of $7.88 billion during the quarter, compared to analyst estimates of $7.80 billion. Schlumberger had a return on equity of 18.51% and a net margin of 12.25%. The firm’s quarterly revenue was up 26.6% on a year-over-year basis. During the same period last year, the company posted $0.41 EPS. Research analysts forecast that Schlumberger Limited will post 3.01 EPS for the current fiscal year.

Schlumberger Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 6th. Stockholders of record on Wednesday, February 8th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, February 7th. This is a positive change from Schlumberger’s previous quarterly dividend of $0.18. This represents a $1.00 annualized dividend and a dividend yield of 1.80%. Schlumberger’s dividend payout ratio (DPR) is currently 29.17%.

Insider Transactions at Schlumberger

In other news, EVP Abdellah Merad sold 70,000 shares of the firm’s stock in a transaction on Monday, January 23rd. The stock was sold at an average price of $57.20, for a total transaction of $4,004,000.00. Following the completion of the sale, the executive vice president now directly owns 204,357 shares of the company’s stock, valued at approximately $11,689,220.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Kevin Fyfe sold 6,095 shares of the stock in a transaction on Monday, November 7th. The stock was sold at an average price of $53.00, for a total value of $323,035.00. Following the completion of the sale, the vice president now owns 35,535 shares in the company, valued at $1,883,355. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Abdellah Merad sold 70,000 shares of the stock in a transaction on Monday, January 23rd. The shares were sold at an average price of $57.20, for a total value of $4,004,000.00. Following the completion of the sale, the executive vice president now owns 204,357 shares of the company’s stock, valued at approximately $11,689,220.40. The disclosure for this sale can be found here. Insiders sold a total of 269,389 shares of company stock valued at $15,026,271 in the last three months. 0.28% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Barclays increased their price target on Schlumberger from $61.00 to $62.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 26th. TheStreet upgraded Schlumberger from a “c+” rating to a “b” rating in a research report on Tuesday, October 11th. Royal Bank of Canada increased their price target on Schlumberger from $59.00 to $66.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 8th. Benchmark assumed coverage on Schlumberger in a research report on Thursday, January 19th. They set a “buy” rating and a $65.00 price target on the stock. Finally, Wolfe Research cut Schlumberger from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 12th. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to data from MarketBeat, Schlumberger currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.52.

About Schlumberger

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Schlumberger NV engages in the provision of technology for reservoir characterization, drilling, production and processing to the oil and gas industry. It operates through the following business segments: Digital and Integration, Reservoir Performance, Well Construction, and Production Systems. The Digital and Integration segment combines the company’s software and seismic businesses with its integrated offering of asset performance solutions.