Schlumberger Limited (NYSE:SLB) Stock Position Decreased by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co lowered its holdings in Schlumberger Limited (NYSE:SLB) by 19.5% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 122,365 shares of the oil and gas company’s stock after selling 29,634 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Schlumberger were worth $5,773,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SLB. Oslo Asset Management AS bought a new stake in shares of Schlumberger in the 2nd quarter worth approximately $7,398,000. Argent Trust Co increased its position in Schlumberger by 9.8% in the second quarter. Argent Trust Co now owns 82,079 shares of the oil and gas company’s stock worth $3,872,000 after buying an additional 7,297 shares during the period. Lingotto Investment Management LLP lifted its stake in Schlumberger by 1.6% in the second quarter. Lingotto Investment Management LLP now owns 2,866,040 shares of the oil and gas company’s stock valued at $135,220,000 after buying an additional 46,202 shares during the last quarter. Wealth Alliance acquired a new position in shares of Schlumberger during the second quarter valued at $202,000. Finally, Abbot Financial Management Inc. grew its position in shares of Schlumberger by 6.2% during the second quarter. Abbot Financial Management Inc. now owns 15,509 shares of the oil and gas company’s stock worth $732,000 after acquiring an additional 902 shares during the last quarter. 81.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Schlumberger

In other news, Director Vijay Kasibhatla sold 10,000 shares of Schlumberger stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.29, for a total value of $492,900.00. Following the transaction, the director now directly owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $50.19, for a total value of $6,056,326.92. Following the completion of the sale, the executive vice president now directly owns 247,699 shares of the company’s stock, valued at approximately $12,432,012.81. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 value of $492,900.00. Following the transaction, the director now directly owns 62,354 shares in the company, valued at approximately $3,073,428.66. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock worth $9,048,624 in the last quarter. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

SLB has been the topic of several recent research reports. Dbs Bank started coverage on shares of Schlumberger in a research report on Wednesday. They issued a “buy” rating and a $64.50 price objective on the stock. StockNews.com cut Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Evercore ISI increased their price objective on Schlumberger from $73.00 to $74.00 and gave the stock an “outperform” rating in a report on Monday, July 22nd. Citigroup cut their target price on Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a research note on Friday, June 28th. Finally, Benchmark reissued a “buy” rating and issued a $68.00 price target on shares of Schlumberger in a research note on Monday, July 22nd. Two investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, Schlumberger currently has an average rating of “Moderate Buy” and a consensus target price of $66.29.

Schlumberger Stock Down 0.2 %

NYSE SLB 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 company has a market capitalization 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’s 50 day simple moving average is $44.63 and its 200 day simple moving average is $47.48. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.49 and a quick ratio of 1.13.

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

Schlumberger Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 10th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.275 per share. This represents a $1.10 annualized dividend and a dividend yield of 2.65%. The ex-dividend date of this dividend is Wednesday, September 4th. Schlumberger’s dividend payout ratio is 36.54%.

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.