Violich Capital Management Inc. Sells 800 Shares of Schlumberger Limited (NYSE:SLB)

Violich Capital Management Inc. lessened its holdings in Schlumberger Limited (NYSE:SLB) by 1.1% during the third quarter, HoldingsChannel.com reports. The firm owned 72,283 shares of the oil and gas company’s stock after selling 800 shares during the period. Violich Capital Management Inc.’s holdings in Schlumberger were worth $3,032,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Schlumberger by 1.4% during the 1st quarter. Vanguard Group Inc. now owns 134,150,168 shares of the oil and gas company’s stock worth $7,352,771,000 after buying an additional 1,868,688 shares during the last quarter. Capital World Investors raised its holdings in Schlumberger by 72.3% during the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after acquiring an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Schlumberger by 14.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock valued at $4,712,897,000 after purchasing an additional 10,606,191 shares during the last quarter. Legal & General Group Plc grew its stake in Schlumberger by 14.0% in the second 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 in the last quarter. Finally, Boston Partners increased its position in shares of Schlumberger by 35.8% during the 1st quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after purchasing an additional 3,069,395 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Schlumberger Price Performance

SLB stock opened at $41.92 on Monday. The company’s 50-day moving average price is $43.10 and its two-hundred day moving average price is $45.95. The firm has a market cap of $59.92 billion, a P/E ratio of 13.93, a P/E/G ratio of 0.96 and a beta of 1.51. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55. Schlumberger Limited has a 12 month low of $38.66 and a 12 month high of $60.85.

Schlumberger (NYSE:SLB) last announced its quarterly earnings data 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 net margin of 12.56% and a return on equity of 21.92%. The business had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same period last year, the firm posted $0.78 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. On average, analysts anticipate that Schlumberger Limited will post 3.46 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.62%. Schlumberger’s dividend payout ratio is currently 36.54%.

Wall Street Analyst Weigh In

SLB has been the subject of several analyst reports. Citigroup decreased their target price on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating for the company in a research note on Friday, June 28th. Dbs Bank started coverage on shares of Schlumberger in a research report on Wednesday, September 18th. They issued a “buy” rating and a $64.50 price objective for the company. BMO Capital Markets dropped their target price on shares of Schlumberger from $60.00 to $58.00 and set an “outperform” rating on the stock in a report on Thursday, October 10th. Bank of America reduced their price target on Schlumberger from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, October 14th. Finally, Susquehanna reduced their target price on Schlumberger from $70.00 to $60.00 and set a “positive” rating for the company in a research note on Friday, October 11th. Two analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $62.97.

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.