Mutual of America Capital Management LLC Reduces Stock Holdings in Schlumberger Limited (NYSE:SLB)

Mutual of America Capital Management LLC reduced its holdings in Schlumberger Limited (NYSE:SLB) by 3.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 180,249 shares of the oil and gas company’s stock after selling 6,897 shares during the period. Mutual of America Capital Management LLC’s holdings in Schlumberger were worth $8,504,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SLB. Gryphon Financial Partners LLC boosted its holdings in shares of Schlumberger by 46.3% in the 4th quarter. Gryphon Financial Partners LLC now owns 6,538 shares of the oil and gas company’s stock valued at $340,000 after acquiring an additional 2,068 shares during the last quarter. Financial Advocates Investment Management boosted its holdings in Schlumberger by 25.5% during the fourth quarter. Financial Advocates Investment Management now owns 6,190 shares of the oil and gas company’s stock worth $322,000 after buying an additional 1,259 shares in the last quarter. Gladstone Institutional Advisory LLC boosted its holdings in Schlumberger by 42.8% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 8,570 shares of the oil and gas company’s stock worth $446,000 after buying an additional 2,570 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Schlumberger by 3.0% during the fourth quarter. Clearbridge Investments LLC now owns 638,472 shares of the oil and gas company’s stock worth $33,226,000 after buying an additional 18,342 shares in the last quarter. Finally, Sachetta LLC purchased a new stake in Schlumberger during the fourth quarter worth $63,000. 81.99% of the stock is owned by hedge funds and other institutional investors.

Schlumberger Price Performance

Schlumberger stock opened at $41.44 on Thursday. Schlumberger Limited has a 12-month low of $38.66 and a 12-month high of $61.70. The stock has a market cap of $59.22 billion, a P/E ratio of 13.77, a PEG ratio of 0.85 and a beta of 1.52. The company has a 50-day moving average price of $44.63 and a 200 day moving average price of $47.48. The company has a current ratio of 1.49, a quick ratio of 1.13 and a debt-to-equity ratio of 0.55.

Schlumberger (NYSE:SLB) last released its quarterly earnings data on Friday, July 19th. The oil and gas company reported $0.85 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $9.08 billion. During the same period last year, the business earned $0.72 earnings per share. Schlumberger’s revenue was up 12.8% compared to the same quarter last year. Sell-side analysts anticipate that Schlumberger Limited will post 3.49 earnings per share for the current year.

Schlumberger Dividend Announcement

The company 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 dividend of $0.275 per share. This represents a $1.10 annualized dividend and a yield of 2.65%. The ex-dividend date is Wednesday, September 4th. Schlumberger’s payout ratio is currently 36.54%.

Insider Buying and Selling

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 247,699 shares in the company, valued at $12,432,012.81. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Schlumberger news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the sale, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Mogharbel Khaled Al sold 120,668 shares of Schlumberger stock in a transaction dated 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 sale, the executive vice president now owns 247,699 shares of the company’s stock, valued at $12,432,012.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 180,716 shares of company stock worth $9,048,624. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SLB. TD Cowen increased 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. Dbs Bank began coverage on shares of Schlumberger in a report on Wednesday. They set a “buy” rating and a $64.50 price target on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $69.00 price target on shares of Schlumberger in a report on Monday, July 22nd. Benchmark reaffirmed a “buy” rating and set a $68.00 price objective on shares of Schlumberger in a report on Monday, July 22nd. Finally, Barclays decreased their price objective on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.29.

Schlumberger Company 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.