Meiji Yasuda Asset Management Co Ltd. Sells 37,725 Shares of Schlumberger Limited (NYSE:SLB)

Meiji Yasuda Asset Management Co Ltd. cut its holdings in Schlumberger Limited (NYSE:SLB) by 49.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 39,058 shares of the oil and gas company’s stock after selling 37,725 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Schlumberger were worth $1,843,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Carolinas Wealth Consulting LLC boosted its stake in shares of Schlumberger by 53.5% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 1,960 shares of the oil and gas company’s stock valued at $102,000 after purchasing an additional 683 shares in the last quarter. Crescent Grove Advisors LLC purchased a new position in shares of Schlumberger during the 2nd quarter worth approximately $257,000. National Bank of Canada FI grew its holdings in shares of Schlumberger by 15.0% during the 1st quarter. National Bank of Canada FI now owns 396,382 shares of the oil and gas company’s stock worth $21,726,000 after acquiring an additional 51,637 shares during the period. Mission Wealth Management LP bought a new position in shares of Schlumberger in the 1st quarter worth approximately $245,000. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Schlumberger by 9.0% in the 1st quarter. Canada Pension Plan Investment Board now owns 788,484 shares of the oil and gas company’s stock valued at $43,217,000 after purchasing an additional 64,974 shares during the period. Hedge funds and other institutional investors own 81.99% of the company’s stock.

Insider Activity

In related news, Director Vijay Kasibhatla sold 10,000 shares of the business’s stock in a transaction that occurred on 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 Securities & Exchange Commission, which is accessible through this link. In related news, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total value of $2,499,397.12. Following the completion of the sale, the chief financial officer now directly owns 203,076 shares of the company’s stock, valued at approximately $10,141,615.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Vijay Kasibhatla sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of $49.29, for a total transaction of $492,900.00. Following the completion of the transaction, the director now owns 62,354 shares of the company’s stock, valued at $3,073,428.66. The disclosure for this sale can be found here. Insiders sold 180,716 shares of company stock valued at $9,048,624 in the last quarter. 0.26% of the stock is currently owned by insiders.

Schlumberger Stock Up 3.2 %

SLB opened at $42.76 on Friday. The stock has a market capitalization of $60.71 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 0.86 and a beta of 1.51. The firm has a 50 day moving average price of $44.56 and a 200-day moving average price of $47.45. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $61.41. The company has a quick ratio of 1.13, a current ratio of 1.49 and a debt-to-equity ratio of 0.55.

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

Schlumberger Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be paid a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a dividend yield of 2.57%. Schlumberger’s dividend payout ratio is currently 36.54%.

Analyst Upgrades and Downgrades

SLB has been the subject of a number of research reports. Susquehanna decreased their price objective on Schlumberger from $77.00 to $70.00 and set a “positive” rating for the company in a report on Thursday, July 11th. Barclays lowered their price target on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating for the company in a research report on Tuesday, July 23rd. Citigroup cut their price objective on shares of Schlumberger from $65.00 to $62.00 and set a “buy” rating on the stock in a report on Friday, June 28th. Evercore ISI lifted their target price on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. Finally, TD Cowen upped their price target on Schlumberger from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Monday, July 22nd. Two research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.29.

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.