State of New Jersey Common Pension Fund D Cuts Stock Holdings in Schlumberger Limited (NYSE:SLB)

State of New Jersey Common Pension Fund D lowered its position in Schlumberger Limited (NYSE:SLB) by 36.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 520,598 shares of the oil and gas company’s stock after selling 292,786 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Schlumberger were worth $24,562,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Register Financial Advisors LLC bought a new position in shares of Schlumberger during the 1st quarter worth approximately $27,000. Manchester Capital Management LLC lifted its holdings in Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock worth $31,000 after acquiring an additional 426 shares during the period. Bruce G. Allen Investments LLC boosted its position in 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 worth $28,000 after purchasing an additional 392 shares during the last quarter. Transcendent Capital Group LLC bought a new position in Schlumberger in the 4th quarter valued at $32,000. Finally, Unique Wealth Strategies LLC purchased a new stake in shares of Schlumberger during the 2nd quarter valued at $30,000. 81.99% of the stock is owned by institutional investors.

Insider Activity at Schlumberger

In other Schlumberger news, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the transaction, the chief financial officer now owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Stephane Biguet sold 50,048 shares of the company’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the transaction, the chief financial officer now directly owns 203,076 shares in the company, valued at $10,141,615.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction dated 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 owns 247,699 shares in the company, valued at approximately $12,432,012.81. The disclosure for this sale can be found here. Insiders have sold 180,716 shares of company stock valued at $9,048,624 over the last three months. 0.26% of the stock is owned by corporate insiders.

Schlumberger Stock Performance

NYSE SLB opened at $39.80 on Friday. The company’s 50 day simple moving average is $45.02 and its two-hundred day simple moving average is $47.70. The stock has a market capitalization of $56.89 billion, a PE ratio of 13.22, a P/E/G ratio of 0.87 and a beta of 1.51. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $62.03.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.02. The company had revenue of $9.14 billion during the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a return on equity of 21.92% and a net margin of 12.56%. The firm’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the company earned $0.72 earnings per share. Analysts predict that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Investors of record on Wednesday, September 4th will be given a $0.275 dividend. This represents a $1.10 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio (DPR) is 36.54%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. TD Cowen boosted their price target on shares of Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Susquehanna reduced their target price on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a research report on Thursday, July 11th. Bank of America lowered their price target on shares of Schlumberger from $62.00 to $58.00 and set a “buy” rating on the stock in a report on Monday, July 15th. Barclays reduced their price objective on Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday, July 23rd. Finally, Citigroup lowered their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Two analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.00.

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.