Schlumberger Limited (NYSE:SLB) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado trimmed its position in Schlumberger Limited (NYSE:SLB) by 3.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 197,457 shares of the oil and gas company’s stock after selling 6,691 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Schlumberger were worth $9,316,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SLB. Carolinas Wealth Consulting LLC raised its holdings in shares of Schlumberger by 53.5% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock valued at $102,000 after buying an additional 683 shares during the last quarter. Crescent Grove Advisors LLC bought a new stake in shares of Schlumberger during the second quarter valued at approximately $257,000. National Bank of Canada FI raised its holdings in shares of Schlumberger by 15.0% during the first quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock valued at $21,726,000 after buying an additional 51,637 shares during the last quarter. Mission Wealth Management LP bought a new stake in shares of Schlumberger during the first quarter valued at approximately $245,000. Finally, Canada Pension Plan Investment Board raised its holdings in shares of Schlumberger by 9.0% during the first quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after buying an additional 64,974 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Price Performance

NYSE SLB opened at $42.41 on Friday. The stock has a market capitalization of $60.22 billion, a P/E ratio of 14.09, a P/E/G ratio of 0.86 and a beta of 1.51. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $61.41. The business’s fifty day moving average is $44.48 and its two-hundred day moving average is $47.38. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49.

Schlumberger (NYSE:SLB) last posted its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.02. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The firm had revenue of $9.14 billion for the quarter, compared to analysts’ expectations of $9.08 billion. During the same period in the previous year, the company posted $0.72 EPS. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, research analysts forecast that Schlumberger Limited will post 3.49 earnings per share for the current fiscal year.

Schlumberger Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.59%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s payout ratio is 36.54%.

Insiders Place Their Bets

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $50.19, for a total transaction of $6,056,326.92. Following the transaction, the executive vice president now directly owns 247,699 shares in the company, valued at approximately $12,432,012.81. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Stephane Biguet sold 50,048 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the transaction, the chief financial officer now owns 203,076 shares in the company, valued at $10,141,615.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 180,716 shares of company stock worth $9,048,624. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SLB shares. Benchmark reaffirmed a “buy” rating and set a $68.00 price target on shares of Schlumberger in a report on Monday, July 22nd. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. TD Cowen boosted their target price on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Monday, July 22nd. Citigroup dropped their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $69.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $66.29.

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.