Meiji Yasuda Life Insurance Co Sells 17,367 Shares of Schlumberger Limited (NYSE:SLB)

Meiji Yasuda Life Insurance Co lowered its stake in shares of Schlumberger Limited (NYSE:SLB) by 34.7% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,754 shares of the oil and gas company’s stock after selling 17,367 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Schlumberger were worth $1,545,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Register Financial Advisors LLC bought a new stake in Schlumberger during the first quarter worth approximately $27,000. Bruce G. Allen Investments LLC boosted its position in shares of Schlumberger by 204.2% in the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares during the period. Unique Wealth Strategies LLC bought a new stake in shares of Schlumberger in the second quarter valued at approximately $30,000. Manchester Capital Management LLC boosted its position in shares of Schlumberger by 297.9% in the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares during the period. Finally, Riverview Trust Co boosted its position in shares of Schlumberger by 90.6% in the second quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 308 shares during the period. Institutional investors own 81.99% of the company’s stock.

Insider Buying and Selling at Schlumberger

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the sale, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total value of $6,056,326.92. Following the sale, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now owns 62,354 shares in the company, valued at $3,073,428.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,716 shares of company stock worth $9,048,624. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Performance

Shares of NYSE:SLB opened at $41.50 on Wednesday. The business has a fifty day moving average of $44.71 and a 200-day moving average of $47.52. The firm has a market cap of $59.32 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 0.85 and a beta of 1.52. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $61.78. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.14 billion for the quarter, compared to the consensus estimate of $9.08 billion. During the same period in the prior year, the company posted $0.72 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. On average, equities research analysts predict that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.65%. Schlumberger’s payout ratio is presently 36.54%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Bank of America reduced their price objective on Schlumberger from $62.00 to $58.00 and set a “buy” rating for the company in a research report on Monday, July 15th. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a research report on Thursday, June 6th. TD Cowen raised their target price on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Monday, July 22nd. Citigroup reduced their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research report on Friday, June 28th. Finally, Benchmark reiterated a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a research note on Monday, July 22nd. Two analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average price target of $66.72.

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.