Canada Pension Plan Investment Board Decreases Stake in Schlumberger Limited (NYSE:SLB)

Canada Pension Plan Investment Board cut its stake in shares of Schlumberger Limited (NYSE:SLB) by 30.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 545,292 shares of the oil and gas company’s stock after selling 243,192 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Schlumberger were worth $25,727,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Checchi Capital Advisers LLC lifted its position in Schlumberger by 1.9% during the 1st quarter. Checchi Capital Advisers LLC now owns 10,808 shares of the oil and gas company’s stock worth $592,000 after acquiring an additional 204 shares during the period. Financial Advocates Investment Management lifted its holdings in shares of Schlumberger by 3.4% during the second quarter. Financial Advocates Investment Management now owns 6,558 shares of the oil and gas company’s stock worth $309,000 after purchasing an additional 218 shares during the period. Hilltop Holdings Inc. lifted its holdings in shares of Schlumberger by 2.1% during the fourth quarter. Hilltop Holdings Inc. now owns 10,761 shares of the oil and gas company’s stock worth $560,000 after purchasing an additional 219 shares during the period. Chilton Capital Management LLC boosted its position in Schlumberger by 0.8% in the second quarter. Chilton Capital Management LLC now owns 26,202 shares of the oil and gas company’s stock valued at $1,236,000 after buying an additional 219 shares during the last quarter. Finally, First PREMIER Bank raised its position in Schlumberger by 8.7% during the 2nd quarter. First PREMIER Bank now owns 2,842 shares of the oil and gas company’s stock worth $134,000 after buying an additional 227 shares during the last quarter. 81.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Mogharbel Khaled Al sold 120,668 shares of the business’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 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 Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Vijay Kasibhatla sold 10,000 shares of the business’s 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 transaction, the director now directly owns 62,354 shares in the company, valued at $3,073,428.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $6,056,326.92. Following the completion of 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. Insiders have sold a total of 180,716 shares of company stock worth $9,048,624 over the last quarter. 0.26% of the stock is currently owned by corporate insiders.

Schlumberger Price Performance

Shares of NYSE SLB opened at $42.41 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. The firm has a fifty day moving average of $44.48 and a 200 day moving average of $47.36. The firm has a market cap of $60.62 billion, a PE ratio of 14.09, a PEG ratio of 0.86 and a beta of 1.51. Schlumberger Limited has a one year low of $38.66 and a one year high of $61.41.

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

Schlumberger Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently commented on the stock. Evercore ISI upped their price objective on shares of Schlumberger from $73.00 to $74.00 and gave the company an “outperform” rating in a report on Monday, July 22nd. 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. StockNews.com lowered Schlumberger from a “buy” rating to a “hold” rating in a research note on Thursday, June 6th. Barclays lowered their target price on Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 23rd. Finally, Benchmark reaffirmed a “buy” rating and set a $68.00 target price on shares of Schlumberger in a report on Monday, July 22nd. Two equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average 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.