Schlumberger Limited (NYSE:SLB) Shares Sold by MetLife Investment Management LLC

MetLife Investment Management LLC trimmed its holdings in Schlumberger Limited (NYSE:SLB) by 3.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 369,393 shares of the oil and gas company’s stock after selling 11,847 shares during the quarter. MetLife Investment Management LLC’s holdings in Schlumberger were worth $15,496,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the business. Lazard Asset Management LLC lifted its position in Schlumberger by 18.8% during the 1st quarter. Lazard Asset Management LLC now owns 14,753 shares of the oil and gas company’s stock worth $808,000 after acquiring an additional 2,330 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Schlumberger during the first quarter worth $252,000. B. Riley Wealth Advisors Inc. grew its position in Schlumberger by 55.3% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 24,800 shares of the oil and gas company’s stock valued at $1,452,000 after buying an additional 8,829 shares during the last quarter. LRI Investments LLC acquired a new position in Schlumberger in the 1st quarter valued at $80,000. Finally, Swedbank AB purchased a new position in Schlumberger during the 1st quarter worth $28,267,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Stock Performance

Shares of SLB opened at $43.66 on Thursday. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $55.69. The stock has a market cap of $61.65 billion, a P/E ratio of 14.04, a PEG ratio of 1.55 and a beta of 1.52. The company has a current ratio of 1.48, a quick ratio of 1.12 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average of $42.94 and a two-hundred day moving average of $44.45.

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

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a $0.275 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.52%. Schlumberger’s dividend payout ratio is currently 35.37%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Schlumberger from $53.00 to $49.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Stifel Nicolaus reiterated a “buy” rating and set a $60.00 target price (down previously from $62.00) on shares of Schlumberger in a research report on Monday, October 21st. JPMorgan Chase & Co. reduced 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. Royal Bank of Canada restated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research note on Thursday, October 3rd. Finally, Citigroup cut their price objective on Schlumberger from $60.00 to $54.00 and set a “buy” rating for the company in a research report on Tuesday, October 22nd. Two investment 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 company. According to MarketBeat.com, Schlumberger has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Insider Activity at Schlumberger

In related news, EVP Abdellah Merad sold 60,000 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $8,880,160.30. This represents a 22.06 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.26% of the company’s stock.

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.