Schlumberger Limited (NYSE:SLB) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lowered its holdings in shares of Schlumberger Limited (NYSE:SLB) by 29.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,000 shares of the oil and gas company’s stock after selling 60,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Schlumberger were worth $6,841,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Capital World Investors grew its holdings in shares of Schlumberger by 72.3% during the first quarter. Capital World Investors now owns 88,950,956 shares of the oil and gas company’s stock worth $4,875,402,000 after buying an additional 37,333,485 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Schlumberger by 14.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 85,986,039 shares of the oil and gas company’s stock worth $4,712,897,000 after buying an additional 10,606,191 shares in the last quarter. Boston Partners grew its holdings in shares of Schlumberger by 35.8% during the first quarter. Boston Partners now owns 11,640,827 shares of the oil and gas company’s stock worth $635,883,000 after buying an additional 3,069,395 shares in the last quarter. Ceredex Value Advisors LLC purchased a new stake in shares of Schlumberger during the second quarter worth about $92,944,000. Finally, 1832 Asset Management L.P. purchased a new stake in shares of Schlumberger during the second quarter worth about $91,364,000. Institutional investors and hedge funds own 81.99% of the company’s stock.

Insider Transactions at Schlumberger

In related 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 transaction, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related 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 transaction, the executive vice president now owns 247,699 shares in the company, valued at $12,432,012.81. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Stephane Biguet sold 50,048 shares of the stock in a transaction dated 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 transaction, the chief financial officer now owns 203,076 shares of the company’s stock, valued at $10,141,615.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 180,716 shares of company stock worth $9,048,624. Insiders own 0.26% of the company’s stock.

Schlumberger Stock Up 1.3 %

Schlumberger stock opened at $45.46 on Friday. The company has a 50-day simple moving average of $43.34 and a 200-day simple moving average of $46.80. The firm has a market capitalization of $64.98 billion, a P/E ratio of 15.10, a P/E/G ratio of 0.90 and a beta of 1.51. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.13 and a current ratio of 1.49. Schlumberger Limited has a one year low of $38.66 and a one year high of $61.20.

Schlumberger (NYSE:SLB) last released its quarterly earnings results on Friday, July 19th. The oil and gas company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.83 by $0.02. The business had revenue of $9.14 billion during 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%. The company’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.72 earnings per share. As a group, equities analysts expect 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. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.275 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.10 annualized dividend and a dividend yield of 2.42%. Schlumberger’s dividend payout ratio is currently 36.54%.

Wall Street Analyst Weigh In

SLB has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Schlumberger from $64.00 to $60.00 and set an “overweight” rating for the company in a report on Tuesday. Morgan Stanley lowered their target price on shares of Schlumberger from $65.00 to $60.00 and set an “overweight” rating for the company in a report on Monday, September 16th. Evercore ISI boosted 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. TD Cowen boosted their target price on shares of Schlumberger from $62.00 to $64.00 and gave the company a “buy” rating in a report on Monday, July 22nd. Finally, Barclays reduced their price target on shares of Schlumberger from $70.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 23rd. Two research analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company. According to data from MarketBeat.com, Schlumberger currently has a consensus rating of “Moderate Buy” and an average target price of $65.29.

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.