Schlumberger Limited (NYSE:SLB) Shares Sold by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV trimmed its position in Schlumberger Limited (NYSE:SLB) by 5.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 89,683 shares of the oil and gas company’s stock after selling 5,032 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Schlumberger were worth $4,231,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. BCM Advisors LLC increased its position in shares of Schlumberger by 1.1% in the 1st quarter. BCM Advisors LLC now owns 18,904 shares of the oil and gas company’s stock valued at $1,036,000 after acquiring an additional 204 shares during the period. Checchi Capital Advisers LLC increased its position in shares of Schlumberger by 1.9% in the 1st quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock valued at $592,000 after acquiring an additional 204 shares during the period. Financial Advocates Investment Management increased its position in shares of Schlumberger by 3.4% in the 2nd quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock valued at $309,000 after acquiring an additional 218 shares during the period. Hilltop Holdings Inc. increased its position in shares of Schlumberger by 2.1% in the 4th quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock valued at $560,000 after acquiring an additional 219 shares during the period. Finally, Chilton Capital Management LLC increased its position in shares of Schlumberger by 0.8% in the 2nd quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after acquiring an additional 219 shares during the period. 81.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SLB has been the topic of several research reports. Royal Bank of Canada reissued an “outperform” rating and issued a $69.00 target price on shares of Schlumberger in a research report on Monday, July 22nd. Evercore ISI upped their price target on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. StockNews.com lowered shares of Schlumberger from a “buy” rating to a “hold” rating in a report on Thursday, June 6th. Susquehanna lowered their price target on shares of Schlumberger from $77.00 to $70.00 and set a “positive” rating on the stock in a report on Thursday, July 11th. Finally, Morgan Stanley lowered their price target on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating on the stock in a report on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $66.29.

Schlumberger Trading Down 0.8 %

Shares of Schlumberger stock opened at $42.41 on Friday. The firm has a market capitalization of $60.22 billion, a PE ratio of 14.09, a P/E/G ratio of 0.86 and a beta of 1.51. Schlumberger Limited has a twelve month low of $38.66 and a twelve month high of $61.41. The firm’s 50-day moving average price is $44.48 and its 200 day moving average price is $47.38. 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 issued its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.02. The firm had revenue of $9.14 billion for the quarter, compared to analyst estimates of $9.08 billion. Schlumberger had a net margin of 12.56% and a return on equity of 21.92%. Schlumberger’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company posted $0.72 EPS. On average, sell-side analysts predict that Schlumberger Limited will post 3.49 EPS for the current fiscal year.

Schlumberger Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 10th. Shareholders of record on Wednesday, September 4th will be issued a $0.275 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.10 dividend on an annualized basis and a yield of 2.59%. Schlumberger’s payout ratio is 36.54%.

Insider Buying and Selling at Schlumberger

In other Schlumberger news, EVP Mogharbel Khaled Al sold 120,668 shares of the stock in a transaction dated Monday, July 22nd. The shares were 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 owns 247,699 shares in the company, valued at approximately $12,432,012.81. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CFO Stephane Biguet sold 50,048 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of $49.94, for a total transaction of $2,499,397.12. Following the completion of the sale, the chief financial officer now owns 203,076 shares in the company, valued at approximately $10,141,615.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Mogharbel Khaled Al sold 120,668 shares of the firm’s stock in a transaction that occurred on Monday, July 22nd. The stock was 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 approximately $12,432,012.81. The disclosure for this sale can be found here. In the last quarter, insiders sold 180,716 shares of company stock worth $9,048,624. Insiders own 0.26% of the company’s stock.

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.