BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Sells 34,057 Shares of Schlumberger Limited (NYSE:SLB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp decreased its holdings in Schlumberger Limited (NYSE:SLB) by 12.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 238,496 shares of the oil and gas company’s stock after selling 34,057 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Schlumberger were worth $10,005,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Legal & General Group Plc raised its position in Schlumberger by 14.0% in the 2nd quarter. Legal & General Group Plc now owns 12,686,384 shares of the oil and gas company’s stock valued at $598,544,000 after purchasing an additional 1,560,684 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Schlumberger by 20.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 11,213,944 shares of the oil and gas company’s stock valued at $470,425,000 after purchasing an additional 1,916,851 shares during the last quarter. Van ECK Associates Corp raised its position in Schlumberger by 1.2% in the 2nd quarter. Van ECK Associates Corp now owns 8,583,818 shares of the oil and gas company’s stock valued at $404,985,000 after purchasing an additional 100,477 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Schlumberger by 0.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,990,797 shares of the oil and gas company’s stock valued at $335,214,000 after purchasing an additional 31,718 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in Schlumberger by 14.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 7,067,465 shares of the oil and gas company’s stock valued at $333,445,000 after purchasing an additional 915,705 shares during the last quarter. Institutional investors own 81.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on SLB shares. TD Cowen cut their price objective on Schlumberger from $68.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, October 21st. Dbs Bank initiated coverage on Schlumberger in a research report on Wednesday, September 18th. They set a “buy” rating and a $64.50 target price for the company. Bank of America dropped their target price on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, October 14th. Stifel Nicolaus restated 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. Finally, Susquehanna dropped their target price on Schlumberger from $60.00 to $56.00 and set a “positive” rating for the company 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 given a strong buy rating to the stock. Based on data from MarketBeat, Schlumberger presently has a consensus rating of “Moderate Buy” and an average target price of $60.97.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Abdellah Merad sold 60,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was sold at an average price of $41.90, for a total value of $2,514,000.00. Following the completion of the transaction, the executive vice president now directly owns 211,937 shares of the company’s stock, valued at approximately $8,880,160.30. The trade was a 22.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 0.6 %

NYSE:SLB opened at $43.94 on Monday. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $55.69. 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 stock has a market cap of $62.05 billion, a price-to-earnings ratio of 14.13, a PEG ratio of 1.55 and a beta of 1.52. The stock has a 50-day moving average price of $42.98 and a two-hundred day moving average price of $44.36.

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

Schlumberger Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.50%. Schlumberger’s payout ratio is 35.37%.

Schlumberger 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.