Intech Investment Management LLC Sells 47,111 Shares of Schlumberger Limited (NYSE:SLB)

Intech Investment Management LLC lowered its stake in shares of Schlumberger Limited (NYSE:SLB) by 28.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 116,671 shares of the oil and gas company’s stock after selling 47,111 shares during the quarter. Intech Investment Management LLC’s holdings in Schlumberger were worth $4,894,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. ORG Partners LLC grew its stake in Schlumberger by 393.5% in the 3rd quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after buying an additional 484 shares during the last quarter. Bruce G. Allen Investments LLC grew 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 purchasing an additional 392 shares during the last quarter. Prospera Private Wealth LLC bought a new position in shares of Schlumberger in the third quarter worth about $29,000. Unique Wealth Strategies LLC bought a new stake in Schlumberger during the 2nd quarter valued at approximately $30,000. Finally, Riverview Trust Co boosted its stake in Schlumberger by 90.6% during the 2nd quarter. Riverview Trust Co now owns 648 shares of the oil and gas company’s stock valued at $31,000 after purchasing an additional 308 shares during the period. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were sold at an average price of $41.90, for a total transaction of $2,514,000.00. Following the transaction, the executive vice president now owns 211,937 shares in the company, valued at $8,880,160.30. This represents a 22.06 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 0.4 %

SLB opened at $44.23 on Friday. The firm has a market cap of $62.46 billion, a price-to-earnings ratio of 14.22, a PEG ratio of 1.56 and a beta of 1.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.12 and a current ratio of 1.48. The firm’s 50-day simple moving average is $42.78 and its 200-day simple moving average is $44.58. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $55.69.

Schlumberger (NYSE:SLB) last issued its quarterly earnings data on Friday, October 18th. The oil and gas company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.44% and a return on equity of 21.84%. The firm had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same period in the prior year, the firm earned $0.78 earnings per share. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Equities research analysts anticipate that Schlumberger Limited will post 3.39 EPS for the current fiscal year.

Schlumberger Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a $0.275 dividend. This represents a $1.10 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date of this dividend is Wednesday, December 4th. Schlumberger’s dividend payout ratio is currently 35.37%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SLB. JPMorgan Chase & Co. cut their price target on Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Morgan Stanley cut their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a research note on Monday, September 16th. TD Cowen decreased their price target on shares of Schlumberger from $68.00 to $65.00 and set a “buy” rating on the stock in a research report on Monday, October 21st. Bank of America cut their price objective on shares of Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $60.00 target price (down from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. Two analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

About Schlumberger

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.