Schlumberger Limited (NYSE:SLB) Shares Sold by Copeland Capital Management LLC

Copeland Capital Management LLC reduced its position in shares of Schlumberger Limited (NYSE:SLB) by 3.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,611 shares of the oil and gas company’s stock after selling 694 shares during the period. Copeland Capital Management LLC’s holdings in Schlumberger were worth $823,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ORG Partners LLC increased its position in shares of Schlumberger by 393.5% during the third quarter. ORG Partners LLC now owns 607 shares of the oil and gas company’s stock valued at $25,000 after acquiring an additional 484 shares during the last quarter. Register Financial Advisors LLC acquired a new stake in shares of Schlumberger during the first quarter valued at about $27,000. Bruce G. Allen Investments LLC increased its position in shares of Schlumberger by 204.2% during the second quarter. Bruce G. Allen Investments LLC now owns 584 shares of the oil and gas company’s stock valued at $28,000 after acquiring an additional 392 shares during the last quarter. Unique Wealth Strategies LLC acquired a new stake in shares of Schlumberger during the second quarter valued at about $30,000. Finally, Manchester Capital Management LLC increased its position in shares of Schlumberger by 297.9% during the first quarter. Manchester Capital Management LLC now owns 569 shares of the oil and gas company’s stock valued at $31,000 after acquiring an additional 426 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Schlumberger Stock Performance

Shares of SLB opened at $41.94 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The stock has a market capitalization of $59.54 billion, a P/E ratio of 13.48, a P/E/G ratio of 1.27 and a beta of 1.51. The company’s fifty day moving average is $43.03 and its two-hundred day moving average is $45.78. Schlumberger Limited has a 1 year low of $38.66 and a 1 year high of $59.05.

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 the consensus estimate of $0.88 by $0.01. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. The company had revenue of $9.16 billion for the quarter, compared to analysts’ expectations of $9.27 billion. During the same period in the previous year, the company posted $0.78 EPS. Schlumberger’s revenue was up 10.2% compared to the same quarter last year. On average, sell-side analysts predict that Schlumberger Limited will post 3.44 earnings per share for the current year.

Schlumberger Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a dividend of $0.275 per share. The ex-dividend date is Wednesday, December 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.62%. Schlumberger’s dividend payout ratio (DPR) is presently 35.37%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday, October 1st. Stifel Nicolaus restated a “buy” rating and issued a $60.00 price objective (down previously from $62.00) on shares of Schlumberger in a report on Monday. Barclays dropped their price objective on shares of Schlumberger from $67.00 to $63.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Morgan Stanley dropped their price objective on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $69.00 price target on shares of Schlumberger in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $61.58.

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.