Oxbow Advisors LLC Lowers Stake in Schlumberger Limited. (SLB)
Oxbow Advisors LLC cut its position in shares of Schlumberger Limited. (NYSE:SLB) by 85.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 7,648 shares of the oil and gas company’s stock after selling 45,406 shares during the period. Oxbow Advisors LLC’s holdings in Schlumberger were worth $515,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harding Loevner LP grew its position in Schlumberger by 1,337.3% in the third quarter. Harding Loevner LP now owns 138,957,632 shares of the oil and gas company’s stock valued at $569,035,000 after acquiring an additional 129,289,552 shares during the period. Vanguard Group Inc. grew its position in Schlumberger by 2.9% in the second quarter. Vanguard Group Inc. now owns 99,022,940 shares of the oil and gas company’s stock valued at $6,519,670,000 after acquiring an additional 2,790,227 shares during the period. Dodge & Cox grew its position in Schlumberger by 12.8% in the second quarter. Dodge & Cox now owns 48,271,463 shares of the oil and gas company’s stock valued at $3,178,193,000 after acquiring an additional 5,494,165 shares during the period. Bank of New York Mellon Corp grew its position in Schlumberger by 2.2% in the third quarter. Bank of New York Mellon Corp now owns 25,620,279 shares of the oil and gas company’s stock valued at $1,787,272,000 after acquiring an additional 548,250 shares during the period. Finally, Northern Trust Corp grew its position in Schlumberger by 2.9% in the second quarter. Northern Trust Corp now owns 18,762,468 shares of the oil and gas company’s stock valued at $1,235,321,000 after acquiring an additional 536,928 shares during the period. Institutional investors and hedge funds own 79.88% of the company’s stock.
Shares of Schlumberger stock opened at $67.74 on Thursday. Schlumberger Limited. has a fifty-two week low of $61.02 and a fifty-two week high of $80.89. The stock has a market capitalization of $89,540.47, a PE ratio of -62.15, a price-to-earnings-growth ratio of 4.99 and a beta of 1.03. The company has a quick ratio of 0.95, a current ratio of 1.21 and a debt-to-equity ratio of 0.40.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 13th. Shareholders of record on Wednesday, February 7th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $2.00 annualized dividend and a dividend yield of 2.95%. Schlumberger’s dividend payout ratio (DPR) is currently -183.49%.
A number of analysts have weighed in on the company. SunTrust Banks upped their price target on Schlumberger from $72.00 to $80.00 and gave the company a “hold” rating in a research report on Tuesday, January 23rd. Susquehanna Bancshares set a $88.00 price objective on Schlumberger and gave the stock a “buy” rating in a research note on Monday, January 22nd. Zacks Investment Research lowered Schlumberger from a “hold” rating to a “sell” rating in a research note on Tuesday, January 23rd. Barclays set a $75.00 price objective on Schlumberger and gave the stock a “hold” rating in a research note on Tuesday, January 23rd. Finally, Loop Capital reissued a “buy” rating and issued a $82.00 price objective (up previously from $77.00) on shares of Schlumberger in a research note on Monday, January 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, twenty-seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Schlumberger currently has an average rating of “Buy” and a consensus price target of $81.44.
In other Schlumberger news, insider Howard Guild sold 25,000 shares of the stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $78.26, for a total value of $1,956,500.00. Following the completion of the sale, the insider now directly owns 22,410 shares in the company, valued at $1,753,806.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Simon Ayat sold 75,000 shares of the stock in a transaction dated Wednesday, January 24th. The stock was sold at an average price of $78.86, for a total value of $5,914,500.00. Following the completion of the sale, the chief financial officer now owns 138,827 shares of the company’s stock, valued at $10,947,897.22. The disclosure for this sale can be found here. 0.48% of the stock is owned by corporate insiders.
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Schlumberger N.V. provides technology for reservoir characterization, drilling, production and processing to the oil and gas industry. The Company’s segments include Reservoir Characterization Group, Drilling Group, Production Group and Cameron Group. The Reservoir Characterization Group consists of the principal technologies involved in finding and defining hydrocarbon resources.
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