Schlumberger Limited (NYSE:SLB) Shares Sold by Marco Investment Management LLC

Marco Investment Management LLC decreased its position in shares of Schlumberger Limited (NYSE:SLB) by 4.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,472 shares of the oil and gas company’s stock after selling 700 shares during the quarter. Marco Investment Management LLC’s holdings in Schlumberger were worth $701,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Schlumberger by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 130,528,372 shares of the oil and gas company’s stock valued at $7,609,804,000 after acquiring an additional 1,412,821 shares during the last quarter. FMR LLC boosted its position in shares of Schlumberger by 1.1% during the 3rd quarter. FMR LLC now owns 27,171,516 shares of the oil and gas company’s stock valued at $1,584,099,000 after acquiring an additional 282,709 shares during the last quarter. Morgan Stanley boosted its position in shares of Schlumberger by 1.9% during the 3rd quarter. Morgan Stanley now owns 15,790,074 shares of the oil and gas company’s stock valued at $920,561,000 after acquiring an additional 292,817 shares during the last quarter. Invesco Ltd. boosted its position in shares of Schlumberger by 30.5% during the 3rd quarter. Invesco Ltd. now owns 8,370,835 shares of the oil and gas company’s stock valued at $488,020,000 after acquiring an additional 1,954,620 shares during the last quarter. Finally, Sanders Capital LLC lifted its position in Schlumberger by 34.9% in the third quarter. Sanders Capital LLC now owns 8,056,492 shares of the oil and gas company’s stock valued at $469,693,000 after buying an additional 2,085,506 shares during the last quarter. Institutional investors and hedge funds own 81.99% of the company’s stock.

Analyst Ratings Changes

SLB has been the topic of a number of recent analyst reports. Wells Fargo & Company cut shares of Schlumberger from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $68.00 to $53.00 in a research report on Monday. Susquehanna reaffirmed a “positive” rating and issued a $77.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Schlumberger in a research report on Monday, April 1st. Stifel Nicolaus reaffirmed a “buy” rating and issued a $64.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Finally, Benchmark reaffirmed a “buy” rating and issued a $68.00 target price on shares of Schlumberger in a research report on Monday, April 22nd. Two research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.72.

Insider Buying and Selling

In related news, EVP Abdellah Merad sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total transaction of $2,426,000.00. Following the sale, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Schlumberger news, EVP Abdellah Merad sold 50,000 shares of the stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $48.52, for a total value of $2,426,000.00. Following the transaction, the executive vice president now directly owns 261,507 shares in the company, valued at $12,688,319.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gavin Rennick sold 20,045 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $48.77, for a total transaction of $977,594.65. Following the completion of the transaction, the insider now owns 77,563 shares in the company, valued at $3,782,747.51. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 76,295 shares of company stock worth $3,707,595. Company insiders own 0.26% of the company’s stock.

Schlumberger Stock Down 0.7 %

SLB stock opened at $48.85 on Monday. The company’s 50 day moving average price is $51.74 and its 200 day moving average price is $52.08. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.02 and a current ratio of 1.37. Schlumberger Limited has a fifty-two week low of $42.73 and a fifty-two week high of $62.12. The firm has a market capitalization of $69.82 billion, a price-to-earnings ratio of 16.35, a PEG ratio of 0.95 and a beta of 1.60.

Schlumberger (NYSE:SLB) last released its earnings results on Friday, April 19th. The oil and gas company reported $0.75 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.75. Schlumberger had a net margin of 12.72% and a return on equity of 21.88%. The firm had revenue of $8.71 billion for the quarter, compared to analyst estimates of $8.70 billion. During the same period in the prior year, the firm earned $0.63 earnings per share. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts anticipate that Schlumberger Limited will post 3.51 EPS for the current fiscal year.

Schlumberger Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 11th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.275 per share. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.25%. This is a positive change from Schlumberger’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend is Wednesday, June 5th. Schlumberger’s dividend payout ratio is presently 36.54%.

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.