Copeland Capital Management LLC Sells 964 Shares of Schlumberger Limited $SLB

Copeland Capital Management LLC lowered its holdings in Schlumberger Limited (NYSE:SLB) by 4.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,163 shares of the oil and gas company’s stock after selling 964 shares during the quarter. Copeland Capital Management LLC’s holdings in Schlumberger were worth $682,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Nuveen LLC bought a new stake in Schlumberger during the first quarter worth about $169,232,000. Scharf Investments LLC grew its stake in Schlumberger by 20.5% during the first quarter. Scharf Investments LLC now owns 1,653,895 shares of the oil and gas company’s stock worth $69,133,000 after buying an additional 281,773 shares during the last quarter. Integrated Advisors Network LLC grew its stake in Schlumberger by 810.4% during the first quarter. Integrated Advisors Network LLC now owns 75,163 shares of the oil and gas company’s stock worth $3,142,000 after buying an additional 66,907 shares during the last quarter. Alan B Lancz & Associates Inc. bought a new stake in Schlumberger during the first quarter worth about $308,000. Finally, Stratos Investment Management LLC grew its stake in Schlumberger by 236.0% during the first quarter. Stratos Investment Management LLC now owns 146,908 shares of the oil and gas company’s stock worth $6,141,000 after buying an additional 103,182 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Insiders Place Their Bets

In related news, insider Dianne B. Ralston sold 39,727 shares of the stock in a transaction that occurred on Friday, September 12th. The shares were sold at an average price of $36.08, for a total value of $1,433,350.16. Following the transaction, the insider directly owned 202,201 shares in the company, valued at $7,295,412.08. This represents a 16.42% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.22% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have weighed in on SLB shares. Wells Fargo & Company cut shares of Schlumberger from a “strong-buy” rating to a “hold” rating in a research note on Sunday, July 20th. UBS Group decreased their price objective on shares of Schlumberger from $45.00 to $44.00 and set a “buy” rating on the stock in a research note on Wednesday, August 20th. Melius Research began coverage on shares of Schlumberger in a research report on Wednesday, August 20th. They set a “buy” rating and a $82.00 target price on the stock. Atb Cap Markets upgraded shares of Schlumberger from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 1st. Finally, Stifel Nicolaus reduced their target price on shares of Schlumberger from $54.00 to $52.00 and set a “buy” rating on the stock in a research report on Wednesday, July 16th. Two equities research analysts have rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Schlumberger has an average rating of “Moderate Buy” and an average price target of $52.18.

Schlumberger Price Performance

Shares of SLB stock opened at $34.26 on Friday. The firm’s 50 day moving average is $34.63 and its 200-day moving average is $35.19. Schlumberger Limited has a 1 year low of $31.11 and a 1 year high of $46.15. The firm has a market capitalization of $51.17 billion, a price-to-earnings ratio of 11.73, a PEG ratio of 9.47 and a beta of 0.97. The company has a current ratio of 1.31, a quick ratio of 0.98 and a debt-to-equity ratio of 0.51.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data on Friday, July 18th. The oil and gas company reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. Schlumberger had a net margin of 11.53% and a return on equity of 20.99%. The business had revenue of $8.55 billion for the quarter, compared to analyst estimates of $8.51 billion. During the same period in the prior year, the business posted $0.85 earnings per share. Schlumberger’s revenue was down 6.5% compared to the same quarter last year. Sell-side analysts forecast that Schlumberger Limited will post 3.38 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 9th. Investors of record on Wednesday, September 3rd will be issued a $0.285 dividend. This represents a $1.14 annualized dividend and a yield of 3.3%. The ex-dividend date is Wednesday, September 3rd. Schlumberger’s dividend payout ratio is currently 39.04%.

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.