Schlumberger Limited. (SLB) Position Reduced by Davis R M Inc.

Schlumberger Limited. (SLB) Position Reduced by Davis R M Inc.

Davis R M Inc. trimmed its holdings in shares of Schlumberger Limited. (NYSE:SLB) by 81.0% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,424 shares of the oil and gas company’s stock after selling 27,474 shares during the quarter. Davis R M Inc.’s holdings in Schlumberger were worth $280,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. CNB Bank lifted its stake in Schlumberger by 15.2% during the first quarter. CNB Bank now owns 12,599 shares of the oil and gas company’s stock worth $548,000 after purchasing an additional 1,666 shares during the last quarter. Hartford Investment Management Co. lifted its stake in Schlumberger by 4.8% during the first quarter. Hartford Investment Management Co. now owns 187,460 shares of the oil and gas company’s stock worth $8,168,000 after purchasing an additional 8,567 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Schlumberger by 79.6% during the first quarter. Quadrant Capital Group LLC now owns 7,230 shares of the oil and gas company’s stock worth $301,000 after purchasing an additional 3,205 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in Schlumberger by 6.4% during the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 487,959 shares of the oil and gas company’s stock worth $21,260,000 after purchasing an additional 29,183 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in Schlumberger by 1.5% during the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 245,961 shares of the oil and gas company’s stock worth $10,717,000 after purchasing an additional 3,539 shares during the last quarter. Institutional investors and hedge funds own 79.37% of the company’s stock.

Several equities research analysts have issued reports on the company. Morgan Stanley set a $51.00 price target on Schlumberger and gave the stock a “hold” rating in a research note on Monday, April 22nd. Barclays dropped their price target on Schlumberger from $52.00 to $49.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 9th. BMO Capital Markets set a $44.00 price target on Schlumberger and gave the stock a “hold” rating in a research note on Monday, April 22nd. SunTrust Banks lifted their price target on Schlumberger to $53.00 and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Finally, Raymond James reaffirmed a “hold” rating on shares of Schlumberger in a research note on Tuesday, April 2nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eleven have assigned a buy rating to the company’s stock. Schlumberger has a consensus rating of “Hold” and an average target price of $57.53.

NYSE SLB opened at $40.27 on Friday. Schlumberger Limited. has a 1-year low of $34.99 and a 1-year high of $75.43. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.35 and a quick ratio of 0.99. The stock has a market capitalization of $55.78 billion, a PE ratio of 24.86, a P/E/G ratio of 1.71 and a beta of 1.31.

Schlumberger (NYSE:SLB) last released its earnings results on Thursday, April 18th. The oil and gas company reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. Schlumberger had a return on equity of 5.87% and a net margin of 6.19%. The company had revenue of $7.88 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same quarter in the previous year, the company posted $0.38 EPS. Schlumberger’s revenue for the quarter was up .6% on a year-over-year basis. Equities research analysts forecast that Schlumberger Limited. will post 1.57 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 4.97%. The ex-dividend date is Tuesday, June 4th. Schlumberger’s payout ratio is 123.46%.

In other Schlumberger news, insider Alexander C. Juden sold 8,643 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $43.29, for a total transaction of $374,155.47. Following the completion of the transaction, the insider now owns 70,260 shares of the company’s stock, valued at approximately $3,041,555.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Simon Ayat sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $46.10, for a total value of $1,152,500.00. Following the transaction, the chief financial officer now directly owns 255,971 shares of the company’s stock, valued at approximately $11,800,263.10. The disclosure for this sale can be found here. Corporate insiders own 0.48% of the company’s stock.

Schlumberger Profile

Schlumberger Limited supplies technology for reservoir characterization, drilling, production, and processing to the oil and gas industry worldwide. The company's Reservoir Characterization segment offers reservoir interpretation and data processing services; open and cased-hole, and slickline services; exploration and production pressure and flow-rate measurement services; tubing-conveyed perforating services; integrated production systems; software, consulting, information management, and IT infrastructure services; reservoir characterization, field development planning, and production enhancement consulting services; petro technical data services and training solutions; and integrated management services.

See Also: Net Income

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